Rensselaer County Again Receives Strong Financial Rating
Standard & Poor’s assigned a new, upgraded ‘AA’ rating and stable outlook to the County’s public improvement serial bonds, and affirmed the county’s ‘AA’ rating on general obligation debt. The review by S & P also found the county to be “strong” in budgeting, fiscal flexibility and overall debt management.
In his press release announcing the upgrade, Rensselaer County Executive Steve McLaughlin said, “this review by Standard & Poor’s of County financial and debt management is further proof of sound and effective fiscal controls throughout the County. Rensselaer County is a great place for investment and job creation, as evidenced by this report.”
The analysis by S & P included a review of County financial statements, fiscal policies and procedures, bank statements and balances, projections on outside factors and conditions, economic development conditions and related factors. S & P analysts worked with Chief Fiscal Officer Mike Slawson to compile information for the report. In its summary S & P concluded, “We view the county’s financial management as strong, with good financial policies and practices.”
The positive report by S & P follows an upgrade of the county’s bond rating in late 2018 by Moody’s.