Credit: Tom Sofield/LevittownNow.com
Bucks County officials are celebrating an improved credit outlook.
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In a statement, the Bucks County Commissioners – two Democrats and one Republican – announced S&P Global Ratings moved the county’s outlook from negative to stable.
The S&P Global Ratings analysis cited “strong management with good financial practices.”
The county press release noted the “financial outlook has stabilized since the current administration took office.” The previous administration was made up of two Republicans and one Democrat.
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S&P Global Ratings kept up the county’s AAA credit rating, which is important if the county looks to borrow money or seek bonds.
“From our first days in office, this administration aimed to tackle the financial challenges facing Bucks County without sacrificing the services we provide to our residents,” Commissioner Chairperson Bob Harvie said in a statement. “To me, this rating is proof that the hard work of our county staff and first-rate management team is paying dividends and safeguarding our county’s future.”
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The analysis said improve practices and policies in the county helped with the improve outlook. In addition, a strong economy and bank accounts buoyed by federal COVID-19 relief and recovery funds helped with the positive review.
Federal funds have led to the county investing millions in capital projects, funding pandemic-related services, purchasing equipment needed, supporting tourism, and doling out grants to small businesses.
Last year, Moody’s Investors Service removed the negative outlook from the county after a review. They said the county government’s outlook was “stable.”
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