MARTA CEO: 'We are getting our financial house in order' - CBS46 News

MARTA CEO: 'We are getting our financial house in order'

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ATLANTA (CBS46) -

MARTA General Manager and CEO Keith T. Parker tweeted Thursday they "are getting their financial house in order" after MARTA's bond rating was upgraded.

A rating increase signals to the bond market that MARTA is performing in a fiscally responsible manner and is addressing issues identified by Moody's Investors Service in prior rating reports.

"We're here because we were able to balance the budget, spend less, and reduce overhead and positions," said Parker.

Bond rating agencies assign a rating that is relied upon by bond investors. These independent third parties review the financial condition of the bond issuers and their ability to repay their obligations.

The upgrade means that MARTA can borrow at more favorable interest rates.

"This is great news for MARTA. Moody's positive response to the changes we've made to become fiscally sustainable confirms the authority is moving in the right direction," said Robert L. Ashe, MARTA board chairman.

The rating increase could result in the potential lowering of interest rates, while lending support to MARTA's steps toward becoming financially sound.

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