(Marietta, Ga. – Aug. 20, 2015) The nation’s top three bond rating agencies, Fitch Ratings, Moody’s and Standard and Poor’s, have reaffirmed Cobb County’s Triple A (AAA) bond rating for the 19th consecutive year.
These are the highest credit ratings available. In addition all three agencies have assigned their Triple A rating to the SunTrust Park bonds to be issued in September of this year.The ratings are the result of the agencies' extensive review of Cobb’s financial operations and creditworthiness - including reviews of its financial management plans, adopted budgets and comprehensive annual financial report.
“This is a testament to sound fiscal management, leadership and a robust local economy,” said Cobb Commission Chairman Tim Lee. “We are proud to be one of only 40 counties nationwide to achieve this status.”
The AAA ratings are achieved through a number of factors including a demonstrated history of sound reserves; a countywide government commitment to low taxes; a stable operations forecast; low general obligation bonds and debt service; an overall strong financial profile; a robust job market and strong local economy and manageable pension projections risk level.
According to James Pehrson, Cobb County Director of Finance and Economic Development, “It is extremely rare for a county to achieve these highly coveted credit ratings for nearly 20 consecutive years. The one constant within Cobb County over this period of time has been the leadership of County Manager David Hankerson. These ratings are reflective of the operations of the entire county beginning with the Board of Commissioners and County Manager, cooperation from the elected officials, agency directors and department managers along with a dedicated staff of employees throughout the entire county."