"Credit ratings and the municipal bond markets would be severely harmed in the state of Georgia," Ruchi Patel, a lobbyist for the Georgia Municipal Association, told the Associated Press.
Plus, previous investors in Atlanta's municipal bonds could see the value of their assets change overnight. If previously issued bonds were taken on by the new city, the risk attached to those assets would be determined by the potential of Buckhead City defaulting on its obligations, and those that remain under Atlanta's obligation would see the area backing them reduced.
As well as losing public assets to the new city, Atlanta's ability to raise capital on its own could also be harmed.
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