NEW YORK--(BUSINESS WIRE)--On August 2, 2018, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA with a Stable Outlook to the City of Birmingham (the City), AL General Obligation Bonds Series 2018-A and General Obligation Warrants Series 2018-B. KBRA also affirmed the long-term rating of AA with Stable Outlook on the City’s outstanding General Obligation Bonds and Warrants.
|Issuer: City of Birmingham, Alabama|
|General Obligation Refunding Bonds, Series 2018-A||AA||Stable||Assigned|
|General Obligation Warrants, Series 2018-B||AA||Stable||Assigned|
|General Obligation Refunding Bonds||AA||Stable||Affirmed|
|General Obligation Warrants||AA||Stable||Affirmed|
KBRA’s long-term ratings do not apply to bonds backed by a letter of credit or liquidity facility, unless otherwise noted.
KBRA’s rating assessment of the City of Birmingham’s General Obligation Bonds and Warrants is based on KBRA’s U.S. Local Government General Obligation Rating Methodology:
- Governance and Management Structure and Policies
- Municipal Resource Base
- Debt and Additional Continuing Obligations
- Financial Performance and Liquidity
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KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.