(Marietta, Ga.) Moody’s bond rating agency has reaffirmed Cobb County’s Triple A (AAA) bond rating for the 20th consecutive year. Triple AAA is the highest credit rating available.
Cobb County Chairman Tim Lee, County Manager David Hankerson and members of the finance department traveled to New York in June to meet with the agency where they presented a review of Cobb’s financial operations and creditworthiness - including its financial management plans, adopted budgets and comprehensive annual financial report.
Moody’s Investor Services commends Cobb’s healthy financial position, noting the County’s smart financial management and proactive fiscal policies are an advantage in the ratings process.
The rating is based on the following factors:
Diversity of the County’s economic base including a wide range of public and private sector employers
Conservative fiscal management
An unreserved general fund balance maintained at a minimum 9 percent
Low debt burden
Traditionally, Triple 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.