The wins keep coming for the city of Huntsville.

Mayor Tommy Battle announced Friday morning that the city had received the top credit rating from the nation's two leading credit rating agencies.

And it will save taxpayers money when it comes to borrowing funds for infrastructure projects to accommodate the newly-announced $1.6 billion Toyota-Mazda plant, Battle said.

The city has against received the top-mark AAA rating from Standard and Poor's and Aaa rating from Moody's. Battle said Huntsville is the only city in the state to receive top rankings from both credit agencies.

It's the 10th straight year Huntsville has received the top credit ratings.

"The triple-A credit ratings are the highest a city can achieve," Battle said.

City officials said less than 1 percent of cities and counties nationwide receive the top ratings.

"This is something we are exceptionally proud of," Battle said of the credit ratings.

With the high credit rating, Battle said the city can borrow money "at the lowest possible cost."

"These credit ratings set the stage for the city to issue debt in the coming weeks," Battle said. "We are looking to borrow about $135 million to fund capital projects. This will include parks, greenways, roadways, the downtown parking garage, (Von Braun Center) improvements.

"But it will also include the money to buy land and construct a railroad spur for the Toyota-Mazda project."

Huntsville has approved $320 million in incentives on the Toyota-Mazda project - including $107 million in property tax abatements that the city wouldn't be receiving without the project. It also includes $6.88 million on a rail line spur to be built at the plant site. And the city in recent weeks has purchased virtually every piece of land available adjacent to the plant site.

"Companies want to come here because when we say that we are triple-A credit rated, they know we have the financial resources and discipline to do what we say we're going to do," Battle said.

Chip Cherry, president and CEO of the Huntsville-Madison County Chamber of Commerce, agreed.

"When you are recruiting companies or working with existing companies, part of what they look at is the health and vitality of the city and be able to look over the horizon and determine if they are going to be a viable partner long term," he said.