For the tenth straight year, both of the nation’s top bond rating agencies have assigned New Hanover County the distinction of a Triple-A bond rating on its general obligation bonds, which is the highest rating possible.
New Hanover County has now received a Triple-A bond rating from Moody’s Investor Services (Moody’s) since 2010, while S&P has rated the county at the Triple-A level since 2013.
“So many factors play into this rating, and it’s a testament to the fiscal responsibility of our Board of Commissioners and the hard work of our staff that we’ve been able to keep a Triple-A rating from both Moody’s and S&P for 10 years,” said New Hanover County Manager Chris Coudriet. “This rating makes New Hanover County one of only 78 counties in the country, and there are 3,069 counties overall, to receive Triple-A distinction from both organizations. To have maintained this rating despite all the challenges we as a community, country and world have faced the last few years is truly an impressive feat.”
Several factors play into how a bond rating is determined, including the county’s overall economy, the size of the tax base, its financial flexibility and reserves, manageable fixed cost burden and the county’s management practices and policies. The Triple-A rating helps New Hanover County get the best interest rates available when implementing vital capital projects, which helps save taxpayers potentially millions of dollars.
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