ds/FotoMak - stock.adobe.comMoody's Ratings said it upgraded Savannah, Georgia's issuer and general obligation unlimited tax-backed ratings to Aaa from Aa1. "The upgrade of [Savannah's] rating to Aaa reflects the expectation that the city's leverage will remain comfortably within the rating category despite near-term capital borrowing plans," according to Moody's report. The upgrade also incorporates Savannah's strong budget management, organic revenue growth and broad budget autonomy. Savannah's GOULT rating "reflects the city's contractual pledge to levy an unlimited property tax for repayment of the bonds," according to the report. The water and sewer revenue bonds' Aa1 rating is based on a large and diverse regional service area, strong revenue growth prospects, and robust financial reserves.