The Numbers Don’t Lie In Atlantic City, NJ — Here’s The Truth

For many years, the various financial reporting agencies have not had good things to say about Atlantic City, New Jersey. This has changed dramatically in the favor of Atlantic City.

Moody’s Investor Services

Has upgraded the City of Atlantic City (rating) from Baa2 to Baa1. Atlantic City Mayor Marty Small has pridefully declared that the City is now investment grade.

Small is right about this and the official rating says so.

The newly achieved Baa1 rating is a high medium-level investment rating. The next improvement will elevate Atlantic City to Grade A territory.

What Does This Mean For Atlantic City

First, it means that the cost for doing business just got better, as Atlantic City now will earn more favorable financial terms.

Just like a person with a great credit rating receives preferred interest rates, this means the exact same thing for Atlantic City.

Here’s one example:

The Atlantic City Municipal Utilities Authority recently stated that the new investment grade level demonstrates stability and it’s an acknowledgement that this utility company is demonstrating strong financial and operational performance.

Property Taxes In Atlantic City

Have been lowered for property owners in Atlantic City for 5 consecutive years.

I don’t know of another such example in Atlantic County, or, the entire state of New Jersey.

At some point, those who are holding back … must give credit, where credit is due.

Marty Small receives his unfair share of negative reporting. To be fair, there are many positive things happening in Atlantic City these days.

Atlantic City Story In A Few Photos