Moody’s Investor Service has reaffirmed Clermont County’s favorable Aa1 bond rating, the second highest bond rating possible, in their July 10, 2012 credit rating update.
“The affirmation was issued in conjunction with an anticipated $5 million Roadway Improvement Revenue Bond to be issued by the Clermont County Transportation Improvement District. The county is the largest contributor of pledged revenues to repay those bonds,” said Clermont County Director of the Office of Management and Budget Sukie Scheetz. “The favorable rating translates into a significant reduction in the cost of borrowing money; it will save taxpayers money due to reduced interest costs.”
According to Moody’s, the Aa1 rating, which was first achieved by Clermont County in May 2010, is based on the county’s sizeable tax base, location near Cincinnati, a solid financial position, and low debt burden.
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