DeKalb County’s top elected and financial officials will pitch their case for better bond ratings to two rating agencies Thursday in New York City.
Both agencies, Standard & Poor's and Moody’s Investor Services, dropped the county’s ratings in the last year. The lower ratings mean higher interest rates on major borrowing, such as for a $1.35 billion upgrade to DeKalb’s water and sewer system.
The county’s recently approved 2011 budget adjustment calls for putting $22 million in reserve, which officials hope will boost its credit score.
CEO Burrell Ellis, Presiding Officer Larry Johnson, Finance Director Joel Gottlieb, Chief Operating Officer Richard Stogner and Deputy Chief Operating Officer Ted Rhinehart are making the county’s presentation. The agencies are expected to make their decisions for the county’s bond rating in the next few months.
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