“The Aa3 rating incorporates the county’s below average reserves which are expected to stabilize and then increase in the near term. The rating also factors the modest debt and pension burden, large tax base that has recently stabilized after consecutive years of contraction,” the Moody’s report said.
Moody’s affirmed an Aa3 rating on the county’s $219.6 million in outstanding debt, down from $283.9 million last year, the credit agency reported.
According to Moody’s website, they are “a leading provider of credit ratings, research, and risk analysis” and and do ratings in over 130 countries.
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