S&P Global Ratings also revised outlook on Westchester County from stable to positive and affirmed its 'AA+' long-term rating on the County's existing general obligation bonds and Moody's Investors Service affirmed the County’s credit position as Aa1 stable.
Westchester County is pleased to announce its recent recognition by Fitch Ratings with a prestigious "AAA" credit rating. The "AAA" credit rating is the highest designation possible and underscores the County's commitment to maintaining a solid financial foundation.
Westchester County Executive George Latimer said: “Achieving a 'AAA' credit rating from Fitch is a testament to the disciplined financial management and strategic planning that define this tenure of Westchester County Government. From day one, my administration has been committed to strong financial management, fiscal stability and prudent governance. This is a tremendous accomplishment for my administration, the Westchester County Board of Legislators and the people of this great County.”
This recognition not only reflects the County's current financial standing but also positions it favorably for future economic challenges and opportunities. The "AAA" credit rating is expected to have a positive impact on Westchester County's ability to secure favorable interest rates when issuing bonds, ultimately benefiting taxpayers and supporting continued investment in critical infrastructure and community initiatives.
Additionally, S&P Global Ratings has recently revised its outlook on Westchester County from stable to positive and affirmed its 'AA+' long-term rating on the County's existing general obligation (GO) bonds. Simultaneously, S&P Global Ratings has assigned a 'AA+' rating to the County's latest bond issuances, including the approximately $125.5 million series 2023A, approximately $27.5 million series 2023B, approximately $34.0 million taxable series 2023C, and approximately $15.6 million taxable series 2023D GO bonds.
Latimer said: “The positive outlook reflects the County's strong financial performance, prudent financial management and our ability navigate economic uncertainties. This is a proud day for the County and it underscores my long standing commitment to sound fiscal policies. I made a promise when I took office to right the County’s finances and that is what we have achieved today.”
Meanwhile, Moody's Investors Service affirmed the County’s credit position as Aa1 stable.