- Associated Press - Wednesday, October 12, 2016

MOBILE, Ala. (AP) - Moody’s Investor Services has raised its outlook on Mobile from negative to stable. It’s a move that Mayor Sandy Stimpson says will help ongoing efforts to put the city on a more solid financial footing.

AL.com reports (https://bit.ly/2e5e6AZ) Mobile remains at an Aa2 credit rating, but Stimpson said Tuesday that the change in outlook will have real benefits.

Stimpson says the city is getting ready to go back into the market to refinance some existing debt and the timing of the Moody report was perfect.

The negative outlook dates back to 2012-2013, when Moody’s cited a rapid deterioration of general fund liquidity and reserves in fiscal year 2012 and 2013.


Information from: Press-Register, https://www.al.com/press-register/

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