Fulton County Issues $223.2 Million in Water/Sewer Revenue Bonds at 3.63% Interest | Print |

Fulton County has issued $223.2 million in water/sewer revenue bonds for a true interest cost of 3.63%.  This reflects a present value savings of $40.37 million or 16.37% of the refunded bonds. Typical refundings generate between 3% and 5% net present value savings.

Fulton County's Water Resources, Finance, County Attorney, and County Manager's offices worked closely to bring the sale to market.  The bonds were well received in the market with high investment grade ratings.

 

Fulton County received high investment grade ratings from Moody's – AA3 (stable outlook), Standard & Poors – AA (stable outlook), and Fitch – AA (Stable outlook).
Results of this refinancing, along with previous debt refinancing and key utility management decisions, resulted in Fulton County customers enjoying the lowest combined water/sewer rates in the metro Atlanta region, even before the recent retail rate reduction.

According to Patrick O'Connor, Fulton County Finance Director there are no forecasts for rate increases in the next five years.