As the city of Vicksburg’s Board of Mayor and Aldermen prepares to draw down the second half of an $18 million bond, it received good news that it had retained an A2 bond rating.

Mayor George Flaggs Jr. said the rating came after a review by Moody’s Investment Services, a New York-based provider of credit ratings and risk analysis. The review, he said, was required before the city could get the remaining $9.2 million from the bond issue.

An A2 rating means the city has more than a sufficient financial ability to pay off the loan.

The money from the bond will be used for capital improvements including paving, a farmer’s market pavilion and work in Kings community.

Retaining this bond rating means the city remains in good standing financially. The city lost its rating in 2012 after forgetting to file the correct paperwork, but the current board has made sure to stay on top of what is needed and is even working to improve the rating before undertaking future projects.

“We’ve worked hard keep our bond rating up, and they (Moody’s) gave us a laundry list of things we needed to do to keep it up, but I want us to get it to a higher level,” North Ward Alderman Michael Mayfield said. “I think this board has gone above and beyond in its efforts to keep its bond rating up and we need to get it higher.”

This board continues to work hard to improve Vicksburg and has proven to be progressive so far during its term.

Retaining the bond rating and being on solid financial footing will enable the bond continue to make progress and we commend them for their hard work.