Delaware County’s bond rating has been bumped up to AA+, the second highest rating available.
A higher bond rating lowers the interest on general obligation and special purpose bonds for long-term county investments and projects, like securing open space, improving government operations and creating new state-of-the-art buildings.
That makes long-term investments easier to finance at less of a cost.
S&P Global Ratings stepped up the rating based on the county’s strong financial position, financially conservative management and budget policies, according to a county release.
S&P wrote “that the County’s financial position will remain healthy given the strong and stable tax base and conservative budgeting practices.”
County Councilwoman Elaine Schaefer said the council has been working with Delaware County Controller Joanne Phillips to create open, transparent and accountable systems of government.
“We are very happy that those efforts are being recognized by entities like S&P and will continue to build on them for the benefit of taxpayers and residents in the coming years.”
S&P Global Ratings cited the County’s:
– Strong economy
– Strong management
– Strong budgetary performance
– Very strong budgetary flexibility
– Very strong liquidity
– Very strong debt and contingent liability profile
– Strong institutional framework score
Find out more about S&P Global’s Bond Rating System.