City Manager Says AAA Rating a Sign of Strong Financial Management

Fitch Ratings agency recently reaffirmed the AAA status on Birmingham's five general obligations bonds, a sign the city manages its finances well.

Things are looking good for Birmingham's financial outlook, as Fitch Ratings recently affirmed the AAA status on five of the city's general obligation bonds. General obligation bonds are issued when the city borrows money for special projects. Birmingham's general obligation bonds range from $1.48 million to $8.8 million, with the most recent bonds issued to pay for park renovations. According to City Manager Bob Bruner, the AAA bond rating is a sign of Birmingham's strong financial management and years of fiscal responsibility. "Birmingham's financial performance results from strong and proactive management, including long-term budgeting and capital planning," the report reads. "The city maintains good financial flexibility, including …

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Fitch Ratings Affirms Birmingham's AAA Bond Rating

The ratings agency says "Birmingham's strong financial management is supported by conservative budgeting and consistently high financial reserves."