Fitch Ratings has upgraded Hall County’s credit rating from AA+ to AAA, a first for the county, and the rating service’s highest rating. In doing so, the rating service noted the upgrade reflects its “financial resilience, ‘strongest’ long-term liability metrics and its ‘strong’ population trend metric.”
The upgraded rating signifies Fitch’s expectation for the County’s strong financial resilience, which allows the County to effectively address any short-term spending pressures while maintaining intergovernmental contracts, according to a news release.
“Financial excellence is a cornerstone of the County’s foundation, and this upgraded credit rating is further evidence of the strong fiscal management by Hall County elected officials and staff,” Hall County Board of Commissioners Chairman Richard Higgins said. “Maintaining a strong financial stance is important for our community and taxpaying citizens who want to feel at ease that their dollars are being spent efficiently and effectively.”
According to the opinion released by Fitch, Hall County’s upgrade is backed by its very low unemployment rate relative to the nation, population growth and its economic strength.
County Administrator Zach Propes added, “An upgrade to our rating reflects the County’s strengths in managing its budget and expenditures, maintaining adequate reserves, managing its long-term obligations and producing consistent positive financial results. Our focus is to set the standard for excellent local government services, and this rating is another example of that commitment.”