ATLANTA— The City of Atlanta is proud to announce that its Series 2022 Infrastructure Bonds, part of the innovative Moving Atlanta Forward infrastructure package, has been honored as the Southeast “Deal of the Year” by The Bond Buyer. This distinguished accolade recognizes the most outstanding municipal finance transactions of the year, celebrating the creativity, resourcefulness and impact these initiatives bring to enhancing infrastructure and quality of life in municipalities across the nation.
“Integrating financial mechanisms with social objectives has been a guiding principle for our Administration, and we are incredibly proud to lead in this arena,” said Mayor Andre Dickens. “Congratulations to CFO Balla and the Department of Finance for this accomplishment, and for keeping Atlanta on solid financial ground with the highest positive fund balance in our city’s history. And thank you to Atlanta voters for overwhelmingly approving the Moving Atlanta Forward infrastructure package to make smart investments in our shared future.”
This recognition extends beyond financial prudence—it is a resounding acknowledgment of Atlanta’s broader commitment to societal welfare and sustainable development. The issuance was further strengthened by Moody’s Investors Service’s Aa1 rating and Fitch Ratings’ AA+ affirmation, highlighting Atlanta’s sound fiscal management and strategic policy alignment.
“Receiving this award from The Bond Buyer is not merely a recognition of our foresight and leadership but also a celebration of the collaborative efforts of all those who have been instrumental in this groundbreaking endeavor. We are committed to continuing our journey towards a fiscally responsible and socially responsive Atlanta,” said Chief Financial Officer Mohamed Balla.
The Series 2022 Infrastructure Bonds, with a significant portion designated as “social bonds,” reflects Atlanta’s unwavering commitment to funding projects that yield substantial social benefits. A total of $369 million of the $410 million raised were earmarked as social bonds, a first for the city. This strategic allocation underscores our dedication to channeling investments into areas crucial for civic development—including recreational facilities, transportation infrastructure, public safety and more.
The financed projects under this bond include impactful endeavors such as the renovation of parks and recreational facilities, modernization of greenhouse structures and construction of buildings for fire/rescue and emergency medical services. These initiatives are strategically designed to serve our city’s diverse populations, significantly enhancing public safety, equity and mobility.
The Bond Buyer, in its 22nd year of recognizing excellence in municipal finance, considered various factors for this award, including creativity, the ability to execute complex transactions under challenging conditions, the potential to serve as a model for other financings, and the public purpose of the deal’s proceeds. Read more about The Bond Buyer’s 2023 Deal of the Year finalists at https://www.bondbuyer.com/news/bond-buyer-announces-finalists-for-2023-deal-of-the-year
Post Date:11/29/2023 12:00 PM
Mayor’s Office of Communications
55 Trinity Avenue, Suite 2500 • Atlanta, Georgia 30303