Standard &Poor (S&P), Moody’s and Fitch each provide county with highest rating in2019

Forsyth County has received a AAArating, the highest bond rating possible, from credit rating agency FitchRatings. With the recognition, the county has now received the highest bond ratings,and the resulting lowest cost of borrowing, from all three major U.S. bondrating services (Moody’s, S&P and Fitch) in 2019.

Bond ratings provided by Moody’s (Aaa)and S&P (AAA) were issued in mid-July following visits from both agenciesin June. A subsequent six-year bond issue of nearly $100 million for SPLOSTprojects was sold with a “true interest cost” of 0.95%, or less than 1% annualinterest.

County staff hosted Fitch Ratings inNovember and the county tour was expanded to include water production andreclamation facilities as the county prepares to issue bonds for $120 million forWater Department system improvements.

“A strong local economy with a diversetax base, coupled with healthy reserves and conservative financial managementpractices were critical in achieving these ratings,” said Forsyth CountyManager Eric Johnson. “My congratulations go to our finance staff under theleadership of Chief Financial Officer David Gruen.”