Fitch Ratings recently affirmed its top bond rating of “AAA” for the city of Knoxville, the city said in a statement released Tuesday.
The news release also noted that Moody’s Investors Services and Standard & Poor’s Ratings Services had recently affirmed high bond ratings for the city — “Aa1” with a stable outlook from Moody’s and AA+ from Standard & Poor’s.
Fitch cited the city’s “sound and established economic underpinning, high and consistent reserves, and affordable debt burden,” according to the news release.
Bond ratings usually aren’t stories local governments spend a lot of time promoting. But they are important — even if they are dry as cardboard.