Hamilton County has retained its AAA rating from the three major bond-rating agencies and is now preparing to issue $260 million in bonds.
Elected officials have said the money will go toward addressing the county’s school facilities crisis, including years of deferred maintenance. The Hamilton County Commission must approve how the funds are eventually spent.
“The city of Chattanooga … is the main driver of the county’s economic base,” according to Fitch Ratings. “Chattanooga serves as the regional economic center with an economy focused on health care, insurance, higher education, retail, manufacturing and transportation, led by Volkswagen. … Additional economic activity comes from the county’s tourism industry, which is focused on numerous outdoor activities.”
(READ MORE: Bonds for new Chattanooga Lookouts stadium to land highest rating)
Hamilton County was the first county in Tennessee to earn a AAA rating and has maintained the status since 2011, according to a news release sent by Hamilton County Mayor Weston Wamp’s office.
Staff photo by Olivia Ross / The BlueCross BlueShield of Tennessee property at the Golden Gateway is seen from the 10th floor of The Westin on May 5, 2023.“This triple AAA rating affirms Hamilton County’s reputation for strong financial stewardship, which has set the stage for us to implement an aggressive plan to modernize public schools across our county,” Wamp said in a statement. “Hamilton County’s strong economy also has a direct impact on our ratings, which should serve as a reminder for us to continue to invest in our workforce of the future.”
Contact Joan McClane at jmcclane@timesfreepress.com or 423-757-660