Richland County is Recognized and Rewarded for Being on Solid Financial Footing
October 16, 2009
COLUMBIA, SC – October 16, 2009 – Richland County Government recently earned a credit rating of AA+ from the world renowned financial management firm, Standard & Poor’s Ratings Services. Richland County’s rating was raised from its long-term rating of AA’ to ‘AA+’, due to the county’s historically strong and stable financial position.
The AA+ credit rating allows the County to secure bonds at a significantly lower interest rate. These are bonds that would be used to fund new public safety vehicles, construct new county facilities, just to name a few.
This upgraded credit rating improves the county’s ability to further absorb reductions in state funding without compromising our service delivery to Richland Residents.
This acknowledgement by Standard & Poor’s is a tremendous vote of confidence in the fiscally conservative policies that the county has put into place over the past decade. It is also confirmation of the outstanding budget and finance team that the county has assembled, says County Administrator Milton Pope.
