New Hanover County has once again achieved the highest bond rating possible from two leading financial services firms. For the 13th consecutive year, the county received a Triple-A designation on its general obligation bonds from Moody’s Investors Service and Standard & Poor’s.
The county first obtained this status from Moody’s in 2010, followed by S&P in 2013. New Hanover County Manager Chris Coudriet stated, “Maintaining an ongoing Triple-A rating for 13 years is a testament to the commitment of our Board of Commissioners and county staff for their financial stewardship.” He further emphasized that sustaining this ranking underscores the board’s focus on responsible debt management while delivering essential community services.
Bond ratings are determined by various factors including tax base size, financial flexibility, reserves, economic conditions, fixed cost burdens, and financial management practices. A Triple-A rating enables New Hanover County to secure favorable interest rates for capital projects, potentially saving taxpayers millions.
Further details about New Hanover County Finance Department’s work can be accessed at Finance.NHCgov.com.
