Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Sandy Springs retains AAA credit ratings; advisers say city can borrow but urge caution
Summary
Financial adviser David Cheatwood told the council the city maintains AAA ratings from Moody's and S&P, has strong reserves and capacity to issue new debt; advisers estimated $60–$76 million of new borrowing could likely be absorbed without downgrading, while policy limits could technically allow much more.
Sandy Springs officials were told at their annual council retreat that the city remains in strong financial health, holding AAA ratings from Moody's and Standard & Poor's and large reserve balances that give the city room to consider future borrowing.
David Cheatwood, the city's outside financial adviser, told the council the city's audited fiscal‑year 2024 results show robust revenues, steady annual debt service of about $12.6 million and fund balances that provide flexibility for capital spending. He said rating agencies cited a sizable tax base, high income levels and strong reserve and management practices when affirming the top ratings.
That rating and the city's financial position matter because they affect borrowing costs and how much capacity the council has to fund projects without increasing investor risk,…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
