For more than 20 years Gwinnett’s management and financial policies have allowed the county to receive AAA bond ratings from all three bond-rating agencies. These highest possible ratings allow the county to borrow money and refinance bonds at favorable interest rates, resulting in future interest payment savings.
Financial Services Director Buffy Alexzulian said new bond issues will be used to begin developing the new Rowen research park, to fund new construction for the Infinite Energy Center expansion and to refinance existing debt.
“Another way at looking at the county’s AAA rating is that we will save about $12.7 million in additional interest payments on the new issues over what they would have cost with an A rating,” said Alexzulian. “Going back to 1998 when the county was first rated AAA, the savings total more than $138 million.”
S&P Global, Moody’s Investors Service and Fitch Ratings are the financial analysts to have reviewed the county’s finances. Triple AAA bond ratings put Gwinnett in the top two percent with 48 others out of more than 3,000 U.S. counties.
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