New Hanover County receives Triple-A bond ratings, in top three percent across the nation for creditworthiness

Posted January 13, 2020 at 10:30 am     Category: FinanceNews Release

NEW HANOVER COUNTY, NC – New Hanover County has received a Triple-A bond rating, the highest rating a county can achieve, from both Moody’s Investor Services (Moody’s) and Standard & Poor’s Rating Services (S&P) on its general obligation bonds set for sale on January 22, 2020.

Moody’s and S&P also reaffirmed the triple-A rating for the county’s current outstanding general obligation debt and rated the county’s limited obligation bonds, which are to be sold on January 23, 2020, at AA1 and AA+, respectively.

“The county has been rated Triple-A by Moody’s since 2010 and by S&P since 2013,” said County Manager Chris Coudriet. “That is a great accomplishment for the Board of Commissioners and our Finance team, and speaks to their keen stewardship and leadership. New Hanover County is one of only 83 counties across the nation – out of 3,069 – that is rated Triple A by both of these agencies, so we remain in the top three percent of county governments as it relates to ratings and creditworthiness.”

Many factors influenced the county’s Triple-A ratings, including a good economy, healthy tax base, and New Hanover County Government’s strong financial position, management, and performance. That strength has ensured the county has financial resources and flexibility to manage and remain resilient during difficult times, such as the recent hurricanes experienced in our community.

These favorable ratings result in the lowest cost to the county when borrowing funds to complete critical capital projects, which ultimately saves taxpayer money.

Learn more about the work of the county’s Finance Department at Finance.NHCgov.com.

###

Media Contact:
Jessica Loeper
(910) 798-7461

« Back to news overview

Communications and Outreach: 230 Government Center Drive, Suite 195 • Wilmington, NC 28403 • Phone 910-798-7461 • Fax 910-798-7277