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Gainesville gets boost in bond rating
City of Gainesville Administrative Building1.jpg

The city of Gainesville is entering the month of April with a big boost in its general obligation unlimited tax bond rating — an assessment of a city’s investment risk and stability — from Moody’s.

The city’s rating has been bumped up to a rating of Aa1 from Aa2 — a measure of high-quality bond obligations and low-level credit risk — and is considered to have a stable financial outlook.

“The stable outlook reflects the expectation that the City's financial position will remain sound given the City's conservative fiscal management and expenditure control resulting in a stable financial position,” Gainesville officials said in a statement.

The city has an estimated $5.6 million in rated general obligation unlimited tax bonds, which can be used by local governments to raise funds and create income streams for roads, parks, equipment and bridges.