NEW YORK--(BUSINESS WIRE)--Aug 3, 2018--On August 2, 2018, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA with a Stable Outlook to the City of Birmingham (the City), AL General Obligation Bonds Series 2018-A and General Obligation Warrants Series 2018-B. KBRA also affirmed the long-term rating of AA with Stable Outlook on the City’s outstanding General Obligation Bonds and Warrants.

KBRA’s long-term ratings do not apply to bonds backed by a letter of credit or liquidity facility, unless otherwise noted.

KBRA’s rating assessment of the City of Birmingham’s General Obligation Bonds and Warrants is based on KBRA’s :

Governance and Management Structure and Policies Municipal Resource Base Debt and Additional Continuing Obligations Financial Performance and Liquidity

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About KBRA and KBRA Europe

KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180803005384/en/

CONTACT: Analytical:

Kroll Bond Rating Agency

Patricia McGuigan, 646-731-3350

Director

pmcguigan@kbra.com

or

Hernando Montero, 646-731-2435

Associate Director

hmontero@kbra.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Kroll Bond Rating Agency

Copyright Business Wire 2018.

PUB: 08/03/2018 11:46 AM/DISC: 08/03/2018 11:46 AM

http://www.businesswire.com/news/home/20180803005384/en