Atoka TN
 
 
Atoka Maintains "Very Strong" Aa2 Credit Rating from Moody's
 
Posted on Thursday June 29, 2017
 
The Town of Atoka maintained its Aa2 credit rating in the annual Moody's review of financial condition. Citing an "extremely small" pension liability, "healthy economy" and "sound financial management", the Town continues its solid fiscal performance while offering outstanding municipal services.
 

The Town of Atoka's Aa2 credit rating was re-affirmed by Moody's Investors Service today - Aa2 being the third-highest rating grade available and indicating to financial markets the Town's ability to fund operations and outstanding obligations.  Aa2 is one grade higher than Aa3 - the average rating of cities nationwide.  Primary factors in the rating were the Town's financial performance, low debt load, economy and tax base and management and governance.  

Financial Performance
The report noted that the Town's, "cash balance as a percent of revenues is far superior to the US median.  Additionally, the available fund balance as a percent of operating revenues is much high than other Moody's-rated cities nationwide."  

Debt and Pensions

Moody's reported that the, "pension liability of the town is extremely small," and, "Atoka has a light debt burden."  Debt and pensions speak to long-term liabilities of the Town that will impact future operating costs.  

Economy and Tax Base

"The Town has a quite healthy economy and tax base," according to the report.  "In addition, the median family income equals a healthy 128.1% of the US level."  

A copy of the full Moody's report is available here.  

 
 
Town of Atoka, Tennessee | 334 Atoka-Munford Avenue Atoka, TN 38004  |  Phone: (901) 837-5300
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Town of Atoka   -   334 Atoka-Munford Ave.   -   Atoka, TN. 38004   -   Phone: 901-837-5300
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