Franklin Receives Triple-A Ratings from Moody’s and Standard & Poor’s
Ratings Cite Solid Economic Growth, a Culture of Long-Term Planning and Forward-Looking Policies
Franklin—Both Moody’s and Standard & Poor’s Ratings Services have given the City of Franklin their top rating (AAA) for Franklin’s expected $43.5 million series 2025 general obligation (GO) bonds. In assigning the AAA rating, the top rating available, the rating agencies cited the City’s healthy financial position marked by high available fund balance and liquidity ratios, stable and affluent tax base and a continued conservative budgeting and strong revenue performance.
The City of Franklin will use the bond proceeds to fund various capital projects throughout the city, headlined by a new park located in southeast Franklin, Pearl M. Bransford Municipal Complex (“The Pearl” park) to be outfitted with athletics sites and other recreational amenities. The City will also use proceed for improvements to McEwen Road and the purchase of replacement Fire apparatus. The 2025 GO bonds mark the first time in nearly six years that the City of Franklin has issued General Obligation debt.
“Receiving the top bond rating from these two ratings services is a strong statement about the financial management of our City and places the City of Franklin at the very top of cities across the country in terms of financial stability,” said Mayor Ken Moore. “The stable outlook for our City reflects our economic vitality, our thriving tourism and our many corporate headquarters calling Franklin home.”
“We are very pleased to receive this rating from both Moody’s and Standard and Poor’s Rating Services,” said City Administrator Eric Stuckey. “Our City team will continue to actively manage City finances and the overall City operations to build upon our strong financial position in the coming years. Our City team is focused on delivering positive results for the citizens of Franklin.”
Both Moody’s and Standard and Poor’s Rating Services are widely used throughout the world as a source for credit ratings, research, and risk analysis. Municipal bond issues are rated upon the request of the issuer. The rating reflects the government’s ability and intention to repay the debt incurred and is not a recommendation to purchase, sell, or hold a security.
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