East Point Earns an “A” Bond Rating

NEWS RELEASE

EAST POINT EARNS AN “A”

EAST POINT, GEORGIA February 1, 2017 – The City of East Point has received a bond rating of “A” by the bond credit rating agency Standard and Poor’s (S&P). An “A” rating signals the strength of the City’s economy and capacity to meet its financial commitments.

Mayor Jannquell Peters believes the rating punctuates that East Point is not only a prime place to live, but an excellent place to invest and do business. “I am thrilled that under this administration, the City of East Point has received its first ever bond rating. This accomplishment is a direct result of having a clear sustainable vison for the city, stability in management, and sound fiscal practices that have been put into place. An “A” credit score sends a strong message that East Point is prime for new investments, reinvestment, and positive future growth. I am excited about our next chapter.” stated Mayor Peters.

The credit rating is directly related to East Point’s financial strength, and will allow the City to qualify for lower interest rates on bond offers, reduced rates on the refinancing of existing bonds, and will lower debt; all of which could save the City millions of dollars during the life of a bond.

 

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