Latest in College Park - Bond Ratings, Support for Marta Station Improvements
Staff Report From Metro Atlanta CEO
Monday, July 31st, 2017
College Park leadership recently held a series of meetings with Moody's Investor Service to review current ratings considerations, with the provision to advise/update the service to more accurately reflect the City's financial positioning.
College Park's current credit rating via Moody's is Aa3, which is generally considered favorable. Although College Park's net cash balance as a percentage of revenues is far superior to other Moody's rated cities nationwide, that alone does not qualify for a ratings increase.
City Manager Terrence Moore, along with Interim Director of Finance and Accounting Michael Forsythe and External Financial Advisor Ed Wall are examining strategies to also secure a higher Standard & Poor's rating for College Park. It's important to note that between 2014 and 2015, College Park's S&P rating was elevated to AA-.
The City of College Park continues its firm financial structure.
- College Park is seeking ways to accompany federal and/or state legislative efforts to help secure a capital improvement program to benefit the Downtown College Park MARTA Train Station. City Manager Terrence Moore has directed discussions with lobbyist Dan Lee to engage in appropriate dialog to assist in this effort, which includes interaction with both MARTA Board of Directors Chairman Robert Ashe Ill and the MARTA State Legislative Committee.
-The Fulton County Department of Public Works recently issued a notice concerning wastewater service rate adjustments that would govern fees over a three year period. This includes the sewer rate for operations and maintenance per 1,000 gallons to increase by $.08 effective October 1, 2017, from $1.66 to $1.74. City administration has duly noted this information and expects minimal impacts to operations in the Water and Wastewater Section of the Department of Public Works.
College Park's current credit rating via Moody's is Aa3, which is generally considered favorable. Although College Park's net cash balance as a percentage of revenues is far superior to other Moody's rated cities nationwide, that alone does not qualify for a ratings increase.
City Manager Terrence Moore, along with Interim Director of Finance and Accounting Michael Forsythe and External Financial Advisor Ed Wall are examining strategies to also secure a higher Standard & Poor's rating for College Park. It's important to note that between 2014 and 2015, College Park's S&P rating was elevated to AA-.
The City of College Park continues its firm financial structure.
- College Park is seeking ways to accompany federal and/or state legislative efforts to help secure a capital improvement program to benefit the Downtown College Park MARTA Train Station. City Manager Terrence Moore has directed discussions with lobbyist Dan Lee to engage in appropriate dialog to assist in this effort, which includes interaction with both MARTA Board of Directors Chairman Robert Ashe Ill and the MARTA State Legislative Committee.
-The Fulton County Department of Public Works recently issued a notice concerning wastewater service rate adjustments that would govern fees over a three year period. This includes the sewer rate for operations and maintenance per 1,000 gallons to increase by $.08 effective October 1, 2017, from $1.66 to $1.74. City administration has duly noted this information and expects minimal impacts to operations in the Water and Wastewater Section of the Department of Public Works.
