Franklin earns AAA bond ratings

Both Moody’s and Standard & Poor’s Ratings Services have given the city of Franklin their top rating (AAA) for Franklin’s expected $43.5 million series 2025 general obligation (GO) bonds. In assigning the AAA rating, the top rating available, the rating agencies cited the City’s healthy financial position marked by high available fund balance and liquidity ratios, stable and affluent tax base and a continued conservative budgeting and strong revenue performance. Franklin will use the bond proceeds to fund various capital projects throughout the city, headlined by a new park located in southeast Franklin, Pearl M. Bransford Municipal Complex (“The Pearl” park) to be outfitted with athletics sites and other recreational amenities. The city will also use proceed for improvements to McEwen Road and the purchase of replacement Fire apparatus. The 2025 GO bonds mark the first time in nearly six years that the City of Franklin has issued General Obligation debt.