Community Corner
Suwanee's Credit Rating Reaffirmed
Fitch commends city officials on their budgeting practices.
The City of Suwanee again has received a favorable rating from a leading credit rating agency.
Fitch Ratings, a global agency for ratings and research, has given the city a AA+ rating. Fitch said Suwanee “has a solid history of conservative budgeting, and its consistently strong reserve levels are evidence of prudent financial management," according to a Suwanee news release.
“A double-A-plus for an organization and community of our size is a really strong rating,” Financial Services Director Amie Sakmar said in the release. “We’re proud that our strong, conservative practices, policies, and forecasting have been so recognized by Fitch Ratings.”
Other positives cited by Fitch were:
- Suwanee lowered its tax rate 14.6 percent in fiscal year 2013. The 0.72 millage rate decrease was due to increased intergovernmental revenues associated with the new Service Delivery Strategy agreement with Gwinnett County.
- Commercial growth in the Suwanee area is strengthened by the city’s positive economic characteristics, proximity to Atlanta, and access to extensive road, rail, and air transportation infrastructure.
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