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After being booted to a negative rating in August by Moody’s Investors Services, officials announced today that New Castle County is again a stable AAA-rated local government.
“Moody’s announced the revised outlooks after completing its assessments of five AAA-rated states and 161 AAA-rated local governments it had identified as indirectly linked to the U.S. government,” New Castle County spokesman Jim Grant said today in a statement.
After the U.S. government’s AAA sovereign rating took a downturn Aug. 4, New Castle County’s did as well.
On Wednesday, Moody’s upgraded the outlook for two of the states and 119 local governments, Grant said.
“We were confident that when Moody’s took a closer look at our finances and our relative lack of exposure to factors which negatively impact other governments, we would be assigned back to stable,” New Castle County Executive Paul Clark said in a statement.
The county is in a group of one percent of all counties that have AAA ratings from Moody’s, Fitch’s and Standard & Poor’s.
Grant said that having a AAA rating allows the County to borrow money for capital improvements with the lowest possible rates.
After being booted to a negative rating in August by Moody’s Investors Services, officials announced today that New Castle County is again a stable AAA-rated local government.
“Moody’s announced the revised outlooks after completing its assessments of five AAA-rated states and 161 AAA-rated local governments it had identified as indirectly linked to the U.S. government,” New Castle County spokesman Jim Grant said today in a statement.
After the U.S. government’s AAA sovereign rating took a downturn Aug. 4, New Castle County’s did as well.
On Wednesday, Moody’s upgraded the outlook for two of the states and 119 local governments, Grant said.
“We were confident that when Moody’s took a closer look at our finances and our relative lack of exposure to factors which negatively impact other governments, we would be assigned back to stable,” New Castle County Executive Paul Clark said in a statement.
The county is in a group of one percent of all counties that have AAA ratings from Moody’s, Fitch’s and Standard & Poor’s.
Grant said that having a AAA rating allows the County to borrow money for capital improvements with the lowest possible rates.
