Mayor announces Chattanooga gets AAA bond rating

CHATTANOOGA (WDEF) – Chattanooga has scored a AAA bond rating for the third year in a row.

Mayor Tim Kelly says that before 2021, they city had not gotten a AAA rating in 14 years.

“This is S&P’s highest quality bond rating rating, which only reinforces what we already know about Chattanooga’s fiscal management and financial health: it is strong and growing stronger,” said Chattanooga Mayor Tim Kelly. “We are making proactive investments in the future of Chattanooga that will supercharge our residents’ quality of life, improve the things they already love, and fix the issues that for too long have been ignored. This administration’s good stewardship of city government is reflected in S&P’s view that the future of Chattanooga is strong.”

The mayor says S&P considered the city’s financial position, ongoing growth, and low debt burden.

“These ratings are the real yardsticks of city management we measure ourselves by, and they are critically important because they mean the lowest possible interest rates for Chattanooga taxpayers,” Kelly said. “I know there has been some discussion on social media stemming from erroneous reports about Chattanooga’s financial health by online clickbait factories, but I hope this will put those false reports to rest.”