Hall County's leaders are receiving positive news this week, regarding its financial rating.
Hall County’s Issuer Default Rating (IDR) has been upgraded by Fitch Ratings Incorporated to AAA from AA+, citing the County’s “financial resilience, ‘strongest’ long-term liability metrics and its ‘strong’ population trend metric," according to a recent press release.
According to the opinion released by Fitch, Hall County’s upgrade is backed by its very low unemployment rate relative to the nation, population growth and its economic strength.
Hall County Administrator Zach Propes says in a release that, “an upgrade to our rating reflects the County’s strengths in managing its budget and expenditures, maintaining adequate reserves, managing its long-term obligations and producing consistent positive financial results. Our focus is to set the standard for excellent local government services, and this rating is another example of that commitment.”
The Hall County Board of Commissioners Chairman Richard Higgins said, “Financial excellence is a cornerstone of the County’s foundation, and this upgraded credit rating is further evidence of the strong fiscal management by Hall County elected officials and staff. Maintaining a strong financial stance is important for our community and taxpaying citizens who want to feel at ease that their dollars are being spent efficiently and effectively.”
Fitch Ratings Inc. is one of three American credit rating agencies, along with Moody's and Standard and Poor's, that are recognized statistical organizations designated by the U.S. Securities and Exchange Commission nationally.
Officials believe the upgraded rating signifies Fitch’s expectation for Hall County’s strong financial resilience to effectively address any short-term spending pressures while maintaining intergovernmental contracts.
http://accesswdun.com/article/2024/7/1252156/hall-county-gets-positive-news-for-its-financial-ratings