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 $203.8 million of general obligation warrants. This debt issuance will fund construction of Plains High School for Auburn City Schools.

Both rating agencies cited Auburn’s robust financial policies, diversified tax base and strong local economy highlighted by Auburn University’s stabilizing presence. Also noted as support for these ratings was 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.

"The City of Auburn has long been recognized as an institution with a strong financial core," Mayor Ron Anders said. "This affirmation of our high bond ratings is further proof of our outstanding financial policies, fiscal discipline and growing economy. This achievement is also a reflection of our talented staff and the stability found in strong professional management. These ratings allow us to make the most of residents' tax dollars by getting lower interest rates when we borrow money, which means we can continue to deliver excellent services and amenities to Auburn residents."

For more information, please contact the Finance Department at (334) 501-7220.