Mauldin's Credit Ranking Upgraded by Moody's

Posted by George 06/29/2016

AVAILABLE FOR IMMEDIATE RELEASE

June 29, 2016

City of Mauldin Upgraded to Aa2 Credit Rating

MAULDIN, SC – The City of Mauldin has improved its credit rating to ‘Aa2’ according to Moody’s Investor Services. An Aa2 rating is a long-term credit score designating the City as “high quality and very low credit risk.” Mauldin’s rating increased by two levels for its refunding bond and affirmed it’s rating to outstanding for its general obligation debt services. 

Mauldin’s rating reflects positively on its medium-sized, growing tax base that benefits from the dynamic economy of the Greenville-Spartanburg region, well-managed financial position with ample reserves and liquidity, and low direct debt with manageable pension costs. 

Moody’s Investor Services is the bond credit rating business of Moody's Corporation and provides international financial research on bonds issued by commercial and government entities and is considered one of the “Big Three” credit rating agencies. 

City Administrator Trey Eubanks stated, “I am so thrilled that Mauldin has been upgraded to a Moody’s Aa2 credit rating. The most important thing we do as a city is serve as good stewards of our taxpayer’s dollars, and this report indicates our continued strength in this effort. This is truly the result of team effort and I want to say thank you to everyone for their hard work and dedication, it has certainly paid off!”