JASPER, Tenn. - If Marion County needs to borrow money for a large project, officials will have an easier time doing it, thanks to an upgraded bond rating from Moody's Investors Service in New York.
At the Marion County Commission's March meeting, County Mayor David Jackson said the upgrade to a AA3 status was "excellent news."
Marion was upgraded to an A1 bond rating in 2014 after the county refinanced two bonds, saving about $3 million over the term of the loans.
County leaders were informed late last month that Marion had been upgraded again, which Jackson described as "strong for a county our size."
"It means better borrowing power and lower rates when we go out to do bonds on capital outlays," he said. "This is big. We're right there knocking on the doorsteps of where Hamilton County's stuff is at."