Salt Lake County Earns Top Scores from Credit Ratings Agencies
Salt Lake County, UT – Salt Lake County has solidified its position as a financially secure and well-managed entity, receiving reaffirmed AAA credit ratings from both Moody’s Investors Service and S&P global Ratings on its outstanding general obligation bonds. This prestigious ranking places the county among the top 1% of all counties nationwide in terms of creditworthiness.
In addition to the reaffirmation, S&P Global Ratings has assigned its highest possible rating – AAA – to the County’s upcoming sales tax bonds, scheduled for sale later this month. These ratings are a testament to the County’s robust financial health and strategic planning.
The agencies cited Salt lake County’s diverse and expanding economy, prudent fiscal policies, and ample financial reserves as key factors driving the positive assessments. Both Moody’s and S&P specifically highlighted the County’s commitment to disciplined long-term planning and consistently balanced operations.
What does this mean for Salt Lake County residents? These top-tier ratings translate directly into lower borrowing costs for the County, maximizing the value of taxpayer dollars and enabling continued investment in essential services.
“Maintaining the highest possible credit ratings from both Moody’s and S&P is an extraordinary accomplishment,” stated Salt Lake County Mayor Jenny Wilson. “It demonstrates our unwavering commitment to careful and responsible financial stewardship, even amidst growth, challenges, and increasing demands. These strong ratings empower us to continue investing in critical areas like housing, public safety, and vital community services, all while diligently protecting taxpayer resources.”
Salt Lake County Council Chair Dea Theodore echoed this sentiment, adding, “These ratings are a direct result of collaborative leadership focused on safeguarding taxpayer dollars. We are dedicated to making smart, sustainable investments that strengthen our community – not just for today, but for generations to come.”
This article was published by world-today-news.com.
