DeKalb County’s interim CEO Lee May, as well as commissioners Larry Johnson and Sharon Barnes Sutton, recently met with bond-rating agencies in New York City to discuss the county’s finances.
The agencies downgraded the county’s ratings in 2011, which increased borrowing costs. Rates have since held stable. But officials hope the increase in county reserve accounts – to about $30 million, or just under the $40 million that covers a month of county expenses - will translate into higher bond ratings. That in turn would mean lower interest rates and lower borrowing costs.
The agencies are expected to issue their rankings by year’s end.
About the Author
The Latest
