Thursday, September 15, 2011
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Gwinnett Daily Post
SUWANEE -- Fitch Ratings has upgraded the city of Suwanee's general obligation and revenue bond rating to AA+, marking the third increase for the city in a period of 17 months.
Suwanee and Fitch announced Wednesday that the credit rating was increased from AA following a routine review. Last year, Fitch raised Suwanee's rating from AA- to AA. In April, Standard and Poor's also upgraded the city's general obligation rating from AA- to AA.
The most recent upgrade was based on Suwanee's "very strong financial profile, marked by the consistency of operating results and maintenance of robust reserves and liquidity," according to Fitch.
"To say that we're excited about this would be a huge understatement," Mayor Dave Williams said in a statement. "That two separate, independent and well-respected financial rating companies have upgraded the city of Suwanee's bond rating in these financially turbulent times says a lot about our fiscal policies."