WXXI AM News

Monroe County's Credit Outlook Improves

Jun 9, 2016

Monroe County Executive Cheryl Dinolfo says that there's been an improvement in the county's credit outlook.

She says that bond rating agencies Moody's Investors Service and S&P Global Ratings have affirmed the county's investment-grade credit ratings and improved the county's fiscal outlook.

Dinolfo says as the fiscal outlook continues to improve, the county will benefit through lower rates for future borrowing and the service of existing debt.

Dinolfo says that Moody's has affirmed the county's Baa1 rating and revised its outlook from stable to positive for the county's outstanding parity debt, and S&P has upgraded the county's outlook from negative to stable based on improved financial performance and increasing general funds reserve.