AUBURN, Ala.- S&P Global Ratings and Moody’s Investors Service have affirmed the City of Auburn's bond ratings of AA+ and Aa2, respectively.

The City requested a rating review in anticipation of the issuance of $45.6 million of general obligation warrants. This debt issuance will fund construction of the Lake Wilmore Community Center, the Lake Wilmore multi-purpose fields and the Boykin Donahue Campus project.

Both rating agencies cited Auburn’s robust economic development across a variety of industries, strong local economy highlighted by Auburn University’s stabilizing presence and very strong management, financial policies and institutional framework. Also noted as support for these ratings include the City’s healthy financial position, stable revenue streams, strong reserves and liquidity levels and prudent fiscal management.

Auburn taxpayers benefit from these excellent ratings in the form of less interest paid on the City’s outstanding debt. For more information, please contact the Finance Department at (334) 501-7220.