City Maintains High Credit Ratings

Communications Director

Kristin Farley
kfarley@knoxvilletn.gov
(865) 215-2589

400 Main St., Room 691
Knoxville, TN 37902

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City Maintains High Credit Ratings

Posted: 01/12/2021
Two independent financial rating services have reaffirmed the City of Knoxville’s credit ratings, which remain at the highest (best) level in the City’s history.

S&P Global Ratings has assessed the City of Knoxville’s debts and financial strengths and again rated the City at the AA+ level, its second-highest possible rating. Fitch has reviewed the City of Knoxville’s general obligation bonds and again rated the City at a AAA level, its highest possible rating.

Despite financial concerns amidst the pandemic, these strong ratings reflect a City that’s financially healthy. The historically high ratings will allow the City to pay less money in interest for bonds in 2021 to finance one-time capital projects, such as completing the Public Safety Complex in North Knoxville and the Urban Wilderness Gateway Park in South Knoxville.

“We’re committed to being careful financial stewards of taxpayer money, and these independent ratings attest to that,” Mayor Indya Kincannon said. “The City’s bond ratings have climbed four grades since the 1990s because we’ve demonstrated fiscal responsibility over the long haul, and will continue to do so.”