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Old 06-22-2010, 09:56 AM
 
Location: Long Neck,De
3,852 posts, read 2,366,757 times
Reputation: 3510
Default Sussex County bonds upgraded

GEORGETOWN — Moody's Investors Service has upgraded Sussex County's general obligation bond rating, a credit score for businesses and governments, from Aa1 to Aa2.

The rating is one step below Moody's highest bond rating of Aaa.
The upgrade “reflects the County’s substantially improved and healthy financial position, maintained by prudent fiscal management that resulted in materially greater financial flexibility and stronger reserve levels,” Moody’s said in a statement.

According to county spokesman Chip Guy, the rating upgrade means more affordable loans for the County government, and makes the region more attractive to investors who buy the bonds used to pay for programs, such as sewer construction projects.
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