GAINESVILLE - Moody's Investors Service has announced the upgrade of the revenue bond rating for the City of Gainesville from A1 to Aa2, a rare two-step upgrade. <br />
City officials say this places Gainesville at a "very high rating" on Moody's scale where an Aaa is the highest rating. Only two water and sewer systems in the state are above the Aa2 rating now awarded to Gainesville. <br />
Moody's report stated, "The upgrade to Aa2 reflects the solid debt service coverage, healthy reserves, low operating ratio, and strong management."<br />
This upgrade in the City's rating decreases the cost of future borrowing through lower interest rates and issue costs. It also increases the market value of the outstanding bonds currently held by investors. More importantly, the upgrade has a positive impact for the City in terms of economic development. Businesses interested in the City of Gainesville will view the bond rating as an indication of the community's economy and of the City's prudent governance. <br />
For a complete copy of Moody's report or for additional information, contact Melody Marlowe, Chief Financial Officer for the City of Gainesville, at <br />
770-535-6898. <br />
Jackson EMC President/CEO Chip Jakins announced Wednesday that its renewable energy supplier, Green Power EMC, has reached an agreement to purchase the full output of a new 52-Megawatt solar array planned for construction in Jeff Davis County near Hazlehurst.
Due to program and enrollment growth at its Cumming Campus, the University of North Georgia plans to lease the top floor of the Cumming City Hall for its Master of Business Administration and continuing education and professional development programs, that according to Associate Vice President of University Relations Kate Maine.