Moody’s upgrades City of Savannah to highest-possible ‘Aaa’ credit rating

SAVANNAH, Ga. (WTOC) - Moody’s Ratings upgraded the City of Savannah’s issuer and general obligation bond rating to Aaa, the highest credit rating the agency awards.

According to city officials, the upgrade recognizes Savannah’s long-standing financial strength, disciplined fiscal management, and continued regional economic growth.

Moody’s cited several factors supporting the upgrade, including:

• Consistently strong financial management and balanced budgets.
• Healthy financial reserves maintained over many years.
• A growing and diverse regional economy.
• Responsible long-term planning for infrastructure investments.
• Strong local control over revenues and expenditures.

The rating agency also recognized Savannah’s expanding economic base, highlighting assets such as the Port of Savannah, major healthcare systems, higher education institutions, Hunter Army Airfield, the region’s tourism industry, and continued industrial growth, including the Hyundai Metaplant in neighboring Bryan County.

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“This rating affirms the City’s long-term commitment to sound financial stewardship,” City Manager Jay Melder said. “Savannah has taken a disciplined approach to budgeting, planning for the future, and making strategic investments that strengthen our community. Receiving Moody’s highest rating demonstrates that those efforts continue to position the City for long-term success.”

A higher credit rating benefits local taxpayers by strengthening the city’s ability to access capital markets on favorable terms, which can reduce borrowing costs for major infrastructure projects and allow more public dollars to be invested directly into community priorities.

In addition to upgrading the overall credit rating, Moody’s assigned an Aa1 rating to Savannah’s 2026 Water and Sewer Revenue Bonds and affirmed the Aa1 rating on existing Water and Sewer Enterprise revenue bonds. This reflects confidence in the utility system’s strong financial position, customer growth, and long-term capital improvement strategy.

Moody’s assigned a stable outlook, indicating the agency expects the city to maintain its strong financial position while continuing to support future growth and infrastructure investments.