2026 is off to a great start for the City of Atlantic City. Mayor Marty Small, Sr., was proud to announce that Moody’s Ratings had bumped the city back up to investment-grade status for the first time in more than 10 years.
This is the second upgrade in less than two years and showcases Atlantic City’s ongoing financial recovery. Mayor Small credited the boost to disciplined fiscal management, responsible budgeting, and steady debt reduction under his administration.
Currently, Atlantic City has roughly $228 million in outstanding debt, down from more than $500 million. $71 million of that amount is direct debt incurred by the city. With the jump to a Baa1 credit rating, Moody’s is acknowledging the city’s reduced debt and has removed all rating outlooks.
“This is a testament to my administration, the State of New Jersey, and City Council working together to achieve this powerful vote of confidence in Atlantic City’s financial future,” noted Mayor Small.
The higher investment-grade credit rating confirms to markets that Atlantic City is a lower-risk borrower. While the Mayor points out that the city does not need to borrow, the designation will allow the city to reduce future borrowing costs, access a wider investor base, and increase confidence among developers and businesses considering the city for opportunities.
“Reaching investment-grade status shows how far the Great City of Atlantic City has come since its financial crisis and that we are now operating from a position of strength,” continued Mayor Small. “Under my watch, investor confidence is at an all-time high because our budget team has been rebuilding Atlantic City the right way, and we intend to protect this progress and remain in the best position possible.”
Atlantic City’s financial team includes Business Administrator Anthony Swan, Chief Financial Officer Toro Aboderin, and City Auditor Leon Costello.
