Summary: Atlanta Development Authority Atlanta; General Obligation; General Obligation Equivalent Security

S&P Global Ratings assigned its 'AA+' long-term rating to the Atlanta Development Authority's revenue bonds (Homeless Opportunity Project), taxable series 2017, issued on behalf of Atlanta. At the same time, we affirmed our 'AA+' long-term rating and underlying rating (SPUR) on Atlanta's general obligation (GO) bonds. The outlook is stable. Pursuant to an intergovernmental contract between the city and the authority, the city has unconditionally agreed to make contract payments to the authority to pay principal and interest when due. The contract payments and the city's other obligations under the agreement shall be absolute and unconditional, and such payments shall not be abated or reduced for any reason. The city has pledged its full faith and credit and unlimited taxing

...S&P Global Ratings assigned its '##+' long-term rating to the Atlanta Development Authority's revenue bonds (Homeless Opportunity Project), taxable series 2017, issued on behalf of Atlanta. At the same time, we affirmed our '##+' long-term rating and underlying rating (SPUR) on Atlanta's general obligation (GO) bonds. The outlook is stable. Pursuant to an intergovernmental contract between the city and the authority, the city has unconditionally agreed to make contract payments to the authority to pay principal and interest when due. The contract payments and the city's other obligations under the agreement shall be absolute and unconditional, and such payments shall not be abated or reduced for any reason. The city has pledged its full faith and credit and unlimited taxing authority to make contract payments and any additional payments as required by the contract. Contract payments will continue until all sufficient payments are made in full to discharge the 2017 bonds. Bond proceeds will...

Summary