Columbus' bond rating could slip - WTVM.com-Columbus, GA News Weather & Sports

Columbus' bond rating could slip

COLUMBUS, Ga. (AP) - Officials in Columbus warn that the city's bond rating could slip if its reserves continue to fall.

Mayor Teresa Tomlinson said the city has enough money in the bank to run the government for about 81 days. But she said that if there's no revenue increase the city may wind up having reserves that won't last 60 days.

That's significant because the 60-day mark is a benchmark that bond rating agencies use to evaluate a city's financial health.

Analysts say crossing the threshold could risk Columbus' ability to earn bonds.

The city has already issued about $100 million in bonds to build a new natatorium and a city service center, and is poised to issue another $40 million in bonds to finish a road project and build a new jail.

Copyright 2011 by The Associated Press.

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