Monday, April 18, 2011
© Copyright 2013
Gwinnett Daily Post
SUWANEE — City dollars could stretch, thanks to a good credit rating for Suwanee’s government.
Earlier this month, Standard & Poor’s raised its rating of the city’s general obligation debt from AA- to AA, matching the higher rating Fitch gave the city last year.
The rating shows a “historically strong financial position and solid economic foundation,” a press release said.
“The fact that S&P, an independent, conservative financial analyst, looked at the city of Suwanee during a regular annual review and found us to be strong in this turbulent economic environment is really positive,” said Amie Sakmar, financial services director for the city. “It means that the city of Suwanee as a team is doing a lot of things right, fiscally and managerially. This rating upgrade came about because of policies, standards and practices that we’ve implemented over a period of time.”
In its analysis, the rating agency noted Suwanee’s inclusion in the diverse Atlanta metropolitan market; the city’s historically strong financial performance, including maintenance of “very strong” operating reserves; implementation of several key financial management policies; and low overall net debt levels, the release said.