Moody's Investors Service has made a small upgrade in its rating of $226 million in outstanding bonds issued by the DeKalb County.
The rating was increased from Aa3 to Aa2, moving the county's long-term bond rating from the fourth-highest to the third-highest category. Aaa is the best rating, followed by Aa1, Aa2 and Aa3. DeKalb County had an Aaa rating in 2001.
"The upgrade affects $226 million in outstanding general obligation bonds. The outlook is revised to stable from positive," Moody's states.
"Obligations rated Aa are judged to be of high quality and are subject to very low credit risk," according to Moody's. Ratings higher than what DeKalb County received indicate an bond obligation "of the highest quality."
Bond issuers generally pay Moody's to get their ratings. Moody's report indicates that DeKalb's rating was solicited. Bond ratings help determine interest rates for municipal debt.
