KINGSTON – Fitch Ratings has upgraded Ulster County’s bond rating to “AA” from its previous rating of “AA-.”
Fitch said the new bond rating is due to the county’s “very strong financial resilience” and strong record of maintaining stable financial operations during periods of economic recovery.
Standard and Poors also rates the county’s bonds at “AA.”
County Executive Michael Hein said that all points to a strong economy and a financial benefit for county residents.
“Virtually every analysis including that of the New York State Comptroller’s Office has placed Ulster County as one of the most fiscally responsible operations in the entire state and that really is a testament to so many people, a lot of hard work, and a commitment to our citizens,” Hein said.
County Finance Commissioner Burt Gulnick said the county will now turn “our full attention to the 2018 budget that we expect may present additional challenges, especially with potential changes to the Affordable Care Act in Washington and the effect on healthcare and Medicaid costs.”
