Brunswick County’s general obligation debt rating has been raised from AA to AA+, and its appropriation-backed debt rating raised from AA- to AA in Standard & Poor’s Ratings released this week.
Brunswick County’s series 2015A and 2015B limited obligation bonds were also given a rating of AA by Standard & Poor’s, and a rating of Aa3 by Moody’s Investors Services, according to a news release from Brunswick County Spokeswoman Amanda Hutcheson.
“The upgrades reflect our opinion of the county’s improved economic factors, particularly unemployment,” information from Standard & Poor’s reads.
In describing its opinion of Brunswick County’s creditworthiness, Standard & Poor’s mentioned the county’s “strong management, with ‘good’ financial management policies under our Financial Management Assessment (FMA) methodology.” The organization also wrote that it considers Brunswick County’s economy strong and the county’s outlook stable.
Moody’s mentioned Brunswick County’s solid financial position and conservative budget management in information about its bond rating decision, Hutcheson said.
“Brunswick County is very pleased that after conducting a thorough review of the County’s governmental funds policies and financial standing, both Moody’s Investors Services and Standard & Poor’s Ratings issued the county favorable debt ratings and noted the county’s solid financial position and low debt burden,” Brunswick County Manager Ann Hardy said. “Additionally, we are very pleased that Brunswick County’s general obligation and appropriate-backed debt ratings increased. Such rating increases do not happen often, and are a reflection of the hard work and dedication to conservative fiscal management of our commissioners and our fiscal operations staff.”