The 'AA-' rating on Atlanta, Ga.'s GO refunding bonds reflects: A diversified regional economic base with stabilized employment trends following the loss of 45,000 jobs during the recession; A trend of operating surpluses resulting in restoration of sound reserve levels; Conservative management practices that include budgeting for 96% of revenue collections, strict hiring policies following significant layoffs, and generally tight expenditure controls; and Moderate debt ratios with manageable general-fund-supported capital needs. Atlanta is the economic and political center of Georgia, serving as the seat of government for both Fulton County and the state. The Atlanta area accounts for almost half of the state's population and the major employment center. The city's economy has shown slow recovery in employment and business
