Credit: Tom Sofield/LevittownNow.com
Bucks County officials happily announced this week that the county’s credit rating was affirmed by Moody’s Investors Service.
The county received its first AAA rating in 2010, which is the highest issued by the investors service. Last year, Standard & Poor’s Rating Services upgraded the county from a AA+ to AAA, its highest rating.
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“It is with great pride and pleasure that we are able to continue to be recognized at the highest level in our ongoing efforts to provide services to the residents of Bucks County in the most efficient and economical manner,” Bucks County Chief Operating Officer Brian Hessenthaler said.
The AAA rating came from a 2010 Moody’s report that noted the county government’s “stabilizing financial operations and strong reserve levels, sizeable tax base, socioeconomic indicators that exceed state and national medians, and low debt burden that is expected to remain manageable given limited future issuance plans.”
“These ratings confirm that the financial course we have charted is continuing to pay off for the residents and taxpayers of Bucks County,” stated Commissioner Chairman Robert G. Loughery. “This is a significant achievement that did not happen overnight. It’s about a long-term, disciplined approach. We are extremely pleased that both Moody’s and Standard & Poor’s have recognized that approach by reaffirming the Triple-A rating we have achieved during recent years.”
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Commissioner Charley Martin said the AAA ratings ” validate our emphasis on sound financial management.”
Hessenthaler praised Director of Finance and Administration David Boscola and his team for their efforts.
