Georgetown, Del., Nov. 15, 2022: Sussex County’s credit rating is still as good as it gets.
Moody Investors Service this month reaffirmed its top ‘Aaa’ bond rating for Sussex County, following a review of cities and counties nationwide and the application of new methodology in scoring bond rating awards. Sussex County first won Moody’s ‘Aaa’ bond rating in July 2019.
The County maintained its ‘Aaa’ rating amid a number of jurisdictions – some 300 nationwide – that either improved, or were downgraded, based on a new calculus applied by the bond credit rating group.
In addition to Moody’s highest bond rating, Sussex County also holds a ‘AAA’ score from S&P Global Ratings, first awarded in 2020.
Maintaining the highest credit ratings possible means more affordable loans for County government, and makes Sussex County more attractive to investors who buy the bonds used to pay for the County’s capital projects, like public wastewater construction, for instance.
“Achieving and then maintaining the highest credit ratings is no easy task, but with our strong finances and diligent management practices, the County is in the fortunate position to have won and kept its status,” County Finance Director Gina A. Jennings said. “That is good news for the County, and for our taxpayers, whose trust and faith in how we manage their money is the most important rating of all. We are proud to have that approval, from Wall Street to Main Street.”