The Fitch Rating service has assigned a “AAA” to over $100 million of new county general obligation bonds. In assigning the top rating Fitch had good things to say about how our local government handles it finances.
“Historically sound financial management and planning has created a level of financial flexibility and cushion that serves to temper the impact of declining income tax and state aid revenues on the county's credit profile.
“Overall debt levels are moderate reflecting the county's controlled approach to growth, rapid principal amortization, and use of pay-go capital.”
This speaks well not only for the current but previous administrations as well since the service also “reaffirmed” over $800 million in existing general obligation bonds.
The higher the rating, the lower the borrowing costs.
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