The City of Sandy Springs Assigned AAA Standard & Poor’s Global Rating

The City of Sandy Springs is pleased to announce that S&P Global Rankings assigned its AAA rating to the Sandy Springs Public Facilities Authority’s $48.6 million revenue bonds and all parity debt outstanding. The bonds were issued for the City of Sandy Springs to construct a new fire station No. 4 in the city limits as well as replacement fire station No. 1 and an addition to fire station No. 3.

David Cheatwood and Walter Goldsmith with First Tryon Advisors are serving as the City’s Financial Advisors for this transaction.

The AAA rating reflects the city's strong economic output and income levels, which are well above the national average. It also considers sound budgeting practices -- including clearly defined investment, debt, and reserve policies -- positive financial results, fiscal prudence, manageable debt levels, and the absence of near-term borrowing plans.

The AAA S&P Global Ranking states: “Sandy Springs has demonstrated fiscal prudence and economic resilience, while continuing to leverage its large, diverse, growing tax base, producing positive operating fund net results, maintenance of a robust reserve position, and a very manageable debt and liabilities profile coupled with a sound pay-go capital program. We believe the city’s adherence to its formal long-term planning and policies further strengthens its credit profile.”

The rating comes weeks after Moody’s Ratings gave the city a AAA for the same revenue bonds – a vote of confidence in the financial security and economic stability of the community.

Mayor Rusty Paul remarked: “Earning the AAA rating from S&P and Aaa from Moody’s sends a strong message regarding our economic vitality, prudent fiscal management, rigorous budgeting practices, robust financial reserves, and disciplined approach to capital planning and debt management. It demonstrates to investors, residents, and businesses that our financial management practices remain exemplary.”