FOLEY, Ala. — The city of Foley has improved its financial standing.

During its regular meeting Monday, the Foley City Council announced that city has moved fom AA- to AA from Standard and Poor. In addition, Moody’s gave Foley a rating of AA3.

That report came after city leaders recently went to New York to meet with the firms.

“We had a good story to tell,” Foley Mayor John Koniar said, “but we had a lot of facts to back it up. It’s really a justification of how well the city has managed its money.”

In an interview, City Administrator Mike Thompson echoed those sentiments.

“The city continues to improve with its fiscal management,” he said.

Thompson added that the last time the city was rated was when it prepared for the Energy Savings Plan, which was estimated to eventually pay for itself with cost of energy saved.

This rating comes as the city of Foley is planning several projects, including adding a pedestrian bridge, centennial plaza, multi-use sports complex and numerous infrastructure improvements.

The footings for the centennial plaza in Heritage Park were ordered Monday. The structure is expected to be completed by the Christmas holidays.

The pedestrian bridge across North McKenzie Street is expected to be complete this fall.