Thursday, November 8, 2018

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Ulster County maintains ‘AA’ bond rating

KINGSTON – Standard and Poors has maintained Ulster County’s AA bond rating and noted County Executive Michael Hein’s commitment to excellence in fiscal management as “strong, with good financial policies and practices.”

Hein said the county’s overall financial picture is sound.

“When we first took office, Ulster County was facing virtual bankruptcy,” he said, noting his management team has turned the situation around. “Partnering with the county legislature, we clearly have set a new standard on how to manage government finances.”

The credit rating report also credits the county for its budgetary flexibility, noting that the available fund balance is sufficient to allow for future capital spending and tax relief purposes.

 


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