Moody’s Investors Service has affirmed both Brunswick County’s Aa2 general obligation bond rating and the county’s Aa3 rating on lease-backed debt, assigning the county a positive outlook.
The ratings announcement from Moody’s notes Brunswick County’s “historically solid financial position” and “below average debt burden that will remain manageable despite significant borrowing plans,” as well as its “strong financial management.”
“Though the county has significant borrowing plans over the next five years, ongoing growth in the county and conservative fiscal management will afford the district the flexibility to manage the additional debt while simultaneously maintaining a strong financial position,” the announcement added.
“Brunswick County is pleased that after a thorough review, Moody’s has affirmed the rating, and it is indicative of the Commissioners’ support of strong financial management policies,” said County Manager Ann Hardy. “Brunswick County is committed to conservative and prudent financial practices while meeting the needs of a rapidly growing population.”
Bond ratings are an indication of the county’s creditworthiness, and are similar to an individual’s credit rating as shown when applying for a mortgage or car loan. Positive ratings reflect a stable situation currently, and bode well for the county with future projects and loans.