Hattiesburg gets good news as its bond rating is restored
HATTIESBURG, Miss. (AP) — A Mississippi city is receiving some good financial news.
Hattiesburg once again has a bond rating after two years of being without one. Mayor Toby Barker tells the Hattiesburg American that, “Christmas has come early for the city.”
The bond rating agency Moody’s withdrew Hattiesburg’s AA3 bond rating in November 2016 “for lack of sufficient information.” The city was behind several years of audit filings.
Barker became mayor in July 2017. He says Hattiesburg now ranks among the top cities in Mississippi in terms of bond ratings.
With the restored bond rating announced Thursday, Hattiesburg will be able to seek a better interest rate on financing for projects such as a new public safety complex, fire station and municipal court.
Barker says Hattiesburg still needs to improve its budget process.
Information from: The Hattiesburg American, http://www.hattiesburgamerican.com