City of Knoxville, TN
09/23/2024 | News release | Distributed by Public on 09/24/2024 11:53
Fitch Ratings Reaffirms City's AAA Rating
Fitch Ratings recently affirmed the City of Knoxville's credit rating as the highest possible rating: AAA.
According to Fitch Ratings, the AAA rating reflects the City's ample budgetary flexibility and the fact that the City assumes maintenance of general fund reserves at or above 7.5% of spending.
"It is our goal to be responsible stewards of taxpayers' dollars, " said Mayor Indya Kincannon. "This recent rating affirmation, coupled with some recent recognition from the Government Finance Officers Association, proves that we are doing just that."
The City also currently has a AAA rating from rating agency Standard & Poor's.
According to Fitch Ratings, the AAA rating reflects the City's ample budgetary flexibility and the fact that the City assumes maintenance of general fund reserves at or above 7.5% of spending.
"It is our goal to be responsible stewards of taxpayers' dollars, " said Mayor Indya Kincannon. "This recent rating affirmation, coupled with some recent recognition from the Government Finance Officers Association, proves that we are doing just that."
The City also currently has a AAA rating from rating agency Standard & Poor's.