Thursday March 28th, 2024 5:57PM
5:31PM ( 26 minutes ago ) News Alert

Hall County's credit rating gets upgraded

Hall County’s credit rating has been upgraded, positively impacting future financial endeavors.

S&P Global (S&P) released an opinion on Wednesday upgrading Hall County’s score to AA from AA-, citing the county’s “strong revenue and expenditure assumptions in the budgeting process, and strong oversight in terms of monitoring progress against the budget during the year.”

The report said the upgrade is supported by strong management, including good financial policies and practices, strong budgetary performance, very strong liquidity and a very strong debt profile.

The upgraded rating signifies increased stability for investors and will positively impact Hall County’s future financing endeavors through lower interest rates.

In addition, the opinion found Hall County’s unassigned fund balance to be at 21 percent of annual operating expenditures, which is well within the Government Finance Officers Association’s recommendation of 15 to 25 percent (or approximately two to three months of operating expenses).

In a press release from the county, one Hall County Board of Commissioner says this new credit assesment is evidence of a lot of hard work. “This upgraded bond rating is further evidence of sound fiscal management by Hall County’s elected officials and staff,” Chairman Richard Higgins said in the release. “We continue to work diligently to maintain this positive rating by being responsible stewards of the public’s funds.”

Hall County Administrator Jack Connell agrees that it speaks highly of positive leadership. “This upgrade is reflective of the Board of Commissioners’ strong financial stewardship, including strategic, short- and long-term planning and ensuring key financial indicators are adhered to, utilizing various forecasting models,” he says.

According to their website, S&P Global Ratings is a market leader in the field of credit risk research. Global Ratings covers various industries, asset classes, geographies, and benchmarks for the benefit of multiple investors.

  • Associated Categories: Homepage, Local/State News
  • Associated Tags: hall county, Hall County Board of Commissioners, Richard Higgins, S&P, Jack Connell, credit rating
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