Cookeville sees improved bond rating, building permit growth

Moody’s Investor Services has upgraded Cookeville’s bond issuer rating and outstanding General Obligation Bonds to Aa1 from Aa2. The city requested the rating on it $10.0 million General Obligation Bonds, Series 2024 which were concurrently rated by Moody’s as Aa1.  This comes as Cookeville continues to experience remarkable growth as shown by a recent surge in building permits. The city issued 106 permits in October 2024, the second-second highest amount issued in a single month and just short of the city’s all-time high of 107 set in January 2024. A significant portion – 63 in total – were for single family or multi-family homes accounting for $19.4 million in investment.