New Hanover County Receives Triple-A Bond Rating from Moody’s and S&P

Posted February 2, 2021 at 3:38 pm     Category: FinanceNews Release

NEW HANOVER COUNTY, NC – The nation’s top bond rating agencies, Moody’s Investor Services (Moody’s) and Standard & Poor’s Rating Services (S&P), have again affirmed New Hanover County’s Triple-A bond rating on its general obligation bonds. New Hanover County has held the Aaa rating from Moody’s since 2010 and Aaa from S&P since 2013.

“This is the highest rating a county can achieve financially and it keeps us in the top three percent out of 3,069 counties nationwide for ratings and creditworthiness,” said County Manager Chris Coudriet. “This will help to ensure New Hanover County continues to get the best possible interest rates to finance critical capital projects, thereby saving our taxpayers millions of dollars. And to be able to maintain this rating amidst the challenges and impacts of the COVID-19 pandemic is a testament to our Board of Commissioners’ leadership, effective finance policies, and good management.”

Many factors influenced New Hanover County’s Triple-A ratings, including the county’s strong economy, large tax base, financial flexibility including a strong level of reserves, manageable fixed cost burden and New Hanover County Government’s strong management practices and policies.

That strength has ensured the county has financial resources and flexibility to manage and remain resilient during difficult times, such as recent hurricanes and the COVID-19 pandemic.

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

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