KANNAPOLIS — Kannapolis has received new ratings from Standard and Poor’s, one of the nation’s big three credit-rating agencies.

The city received an AA- credit rating and an A+ limited obligation bond rating. It was also positively recognized by the firm for its strong management — good financial policies and practices, budgetary performance, budgetary flexibility, liquidity, weak debt and strong institutional framework.

With this healthy financial status, according to a city news release, Kannapolis is able to move forward with capital projects, secure funding for joint projects and solicit economic development initiatives.