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Moody's, Standard & Poor's affirm county's bond rating | County brief

 

August 12, 2015



Moody's, as well as Standard & Poor's recently affirmed Snohomish County's bond rating and stable outlook.

"This is great news for Snohomish County," said County Executive John Lovick in a press release. "Our strong local economy and very low unemployment are key indicators of the County’s fiscal health. These ratings also reflect our sound fiscal management practices and commitment to maintaining fiscal integrity.”

The county has a AA+ rating from S&P and an Aa3 rating with Moody's.

S&P listed the county's strong management, strong liquidity, strong budgetary flexibility and good financial practices as reasons for the rating, while Moody's Investor Service stable outlook came from the service's "believe that the county's financial position with improve over the next several years, and that it will rebuild its general fund balance. In addition, the outlook incorporates the expectation that the local economy will continue to grow."

The strong bond ratings allow the county to sell bonds at a lower cost, which can save the county, and taxpayers, money in interest payments.

 

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