Three credit agencies have reaffirmed favorable opinions of Gwinnett County’s financial condition by awarding the county AAA ratings.
Moody’s, Standard and Poor’s and Fitch Ratings cited the county’s conservative financial management policies as a key factor in their ratings, Gwinnett officials announced Wednesday.
“Financial operations have been guided by a conservative budget approach and prudent expenditure reductions and revenue enhancements which have preserved the general fund’s strong reserve levels and financial flexibility,” Fitch reported.
Only 35 counties nationwide hold AAA ratings. Gwinnett first achieved AAA ratings in 1997 and has maintained them every year since them.
The ratings will allow Gwinnett to borrow money at lower interest rates than many governments pay.
Over the next two months Gwinnett plans to refinance about $200 million in revenue bonds for water and sewer improvements. The country also is restructuring $57.4 million in outstanding debt on the Gwinnett Civic and Cultural Center.
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