City of Woodstock Bond Ratings Upgraded Last month, Moody’s Investor Service upgraded the City of Woodstock’s issuer and general obligation limited tax ratings from Aa2 to Aa1. This upgraded rating will be applied to existing bonds including the Downtown Parking Deck Project. Moody’s cited Woodstock’s years of surplus operations that have materially improved reserves, its economic growth that continues to strengthen its wealth and income metrics, and its maintenance of consistently low long-term liabilities as factors leading to the upgrade.Also, S&P Global Ratings raised Woodstock’s long-term and underlying rating on general obligation debt from AA to AA+. S&P Global upgraded Woodstock’s debt rating because of the municipality’s “improving economic metrics, given overall tax digest growth and price appreciation” as well as “sustained reserve levels due to consistent positive budgetary performance” and “improving debt profile.”Having earned an Aa1 rating with Moody’s and an AA+ rating with S&P, Woodstock joins the ranks of other Georgia cities such as Atlanta, Decatur, and Savannah. These improved ratings will also lower the costs of bonds to be acquired in 2024 for the construction of Little River Park. To learn more about the City of Woodstock’s financial stewardship through budget excellence and fiscal responsibility, visit WoodstockGa.gov/finance.
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