GOSHEN- Orange County has received an AA+ bond rating from S&P Global Ratings, a distinction currently held by only four counties in the state.
According to S&P, “The rating reflects our opinion of the County’s growing local economy with several sizable economic-development projects coming online, a strong management environment with a range of formal policies and practices, positive budgetary performance with significant reserve growth recently, and a manageable debt profile.”
County Executive Steve Neuhaus noted that the rating is a significant change from a decade ago when the county’s financial outlook was downgraded twice by Moody’s.
“We continue to strive to be excellent stewards of County taxpayers’ dollars,” said Neuhaus. “It is gratifying to see our hard work and efforts to keep County finances stable and grow the County’s economy as acknowledged by this higher rating. A favorable rating means that County borrowing will cost less for the taxpayers. I am thankful to the high caliber team we have in Orange County that made this happen.”
