OLYMPIA -Standard and Poors Rating Services has given Thurston County high marks for financial management. The company has assigned a long term rating of "Double-A" to the county's series 2015 Limited Tax General Obligation refunding bonds. At the same time, Standard and Poors assigned its "AA" long-term rating to the county's existing General Obligation debt saying the outlook on all ratings is stable. That's up from the previous rating of AA-.-30-
County Commission Chair Cathy Wolfe says the Standard and Poors review shows the county is doing a good job with financial management. "The report says the county has shown 'Strong management, with good financial policies and practices'. We are very pleased to achieve such a high rating."
County Manager Cliff Moore says the rating will allow the county to attract lower interest rates for bond debt, saving county taxpayers money. "The county can refinance some bond issues for an accumulated savings of about $1,000,000 over the life of those bonds."
The Standard and Poors rating shows a stable outlook for Thurston County financial management in view of the County's "...strong budgetary flexibility, strong budgetary performance, strong management and very strong liquidity scores." The report goes on to say the Thurston County ratings could go even higher in coming years as the economy continues to recover.