Report|21 Oct 2026

City of Birmingham, AL – G.O. Surveillance Report

Rating Summary

The long-term rating reflects the City of Birmingham’s (the “City’s”) prominent role as the State of Alabama’s (the “State’s”) primary economic driver, serving as a regional center for finance, trade, cultural activities, manufacturing and transportation; conservative financial management policies, and exceptionally strong reserves. These strengths are tempered by the still low, though improving, pension funding levels and reliance on economically sensitive taxes.

G.O. bonds and warrants are general obligations of the City, and its full faith and credit are irrevocably pledged, subject to the prior payment of necessary and reasonable expenses of governmental operations. G.O. bonds and warrants are payable from any and all taxes and revenues of the City including, but not limited to, ad valorem property taxes and business taxes. The State constitution limits the City’s ability to independently increase ad valorem property tax revenues.

Business tax revenues comprise…

Log in or Sign up for free access to this report.