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Bernalillo County Receives Triple A Bond Ratings from Moody’s, Fitch and Standard and Poor’s

9:28 AM

Bernalillo County has kept its triple A bond rating with the three major rating companies in the country, Moody’s, Fitch and Standard and Poor’s.

Bond ratings are critical to government agencies. The higher bond rating means the county receives lower interest rates when selling bonds to finance voter-approved projects.

“These top ratings show Bernalillo County has a solid financial foundation with healthy reserves and thorough oversight,” Bernalillo County Commission Chair Maggie Hart Stebbins says. “In turn, bond investors should feel confident and residents will see improvements through capital projects that will improve services and quality of life.”

“Bernalillo County’s strong and stable condition demonstrates the excellent fiscal management our county staff provides,” County Manager Julie Morgas Baca says. “We will continue to strive to be fiscally responsible to the citizens we serve.”

While other governments in New Mexico have experienced downgraded ratings due to increasing unfunded pension liabilities, Bernalillo County was cited as having an ample monetary reserve position and an established pension reserve of $3 million which was established in fiscal year 2018 and reduces the associated risk in the near term.

“Bernalillo County has a very strong liquidity profile,” says Deputy County Manager for Finance Shirley Ragin. “This is all attributed to our investment policy being transparent and our conservative approach to investments that provides stability to our liquidity profile.”

On Tuesday, Feb. 26, the county will sell a $23.1 million general obligation bond package to finance road, library, parks, storm drain, and facility improvement projects.

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