Gwinnett receives top bond ratings from all three agencies

For the 20th year, the three top bond rating agencies, Moody’s Investors Services, S&P Global Ratings and Fitch Ratings have once again rated Gwinnett favorably with AAA/Aaa bond ratings. (Courtesy Gwinnett County)

Credit: 2014031100

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For the 20th year, the three top bond rating agencies, Moody’s Investors Services, S&P Global Ratings and Fitch Ratings have once again rated Gwinnett favorably with AAA/Aaa bond ratings. (Courtesy Gwinnett County)

Credit: 2014031100

Credit: 2014031100

The three top bond rating agencies, Moody’s Investors Services, S&P Global Ratings and Fitch Ratings have once again rated Gwinnett favorably with AAA/Aaa bond ratings. This is the 20th year in row Gwinnett has received top credit rankings from all three rating agencies.

For citizens, these ratings mean the county can issue or refinance bonds at the most favorable rates, reducing the amount of interest paid over the term of the bonds.

“These high marks should tell residents that they can be confident Gwinnett County is managing their money in a conservative and responsible way even as we continue to deliver award-winning, high-quality services,” said Gwinnett Chairwoman Nicole Hendrickson.

The review by the three credit rating agencies was part of a bond refinancing effort for $65.13 million in water and sewer bonds issued in 2011. The refinancing will save Gwinnett taxpayers an estimated $7.4 million in interest payments over the next four years.

In their analyses of Gwinnett County’s finances, the bond rating agencies cited the county’s stability, strong fiscal position, strong budgetary performance and flexibility, low debt and pension burdens and strong management and financial policies as reasons for the high scores.

According to the county, Gwinnett is one of just 50 counties nationwide to receive the triple AAA/Aaa grade out of 3,000 counties across the country.