The city of Huntsville has received a perfect credit rating from Moody’s Investors Services and S&P Global Ratings, the city announced Monday.

It’s a continuation of a long-standing elite financial outlook for Huntsville, which has routinely received triple-A credit ratings for more than a decade.

“Ratings assigned are forward-looking opinions of the relative credit risks of financial obligations issued by public sector entities,” the city said in its announcement. “Triple-A agencies show the ability and willingness to meet their financial obligations on time and in full. Only the ‘highest quality, with minimal risk’ financial obligations receive a triple-A rating.”

“By taking a conservative approach to fiscal management, we’ve been able to foster a thriving economy that will benefit tax-payers for decades to come,” Mayor Tommy Battle said in the announcement. “Our dedicated administration and elected city council members also help support a responsible, balanced budget and continue to yield smart investments that make Huntsville a great place to live, work and play.”

The ratings were required ahead of the $205 million debt issuance set for competitive sale on Feb. 23, the city announcement said. This issuance consists of four series to be used toward the following capital assets:

• $75 million for public parks and other recreational activities
• $30 million for economic development land and infrastructure
• $50 million for sewer plant expansion and major equipment
• $50 million for schools, including Central Office and Career Tech academy buildings

The city said in the recent ratings report, Huntsville’s local economy was described as, “exhibiting strong, continuous growth with expansions in major businesses and residential developments citywide.”