Wake County Earns Tops Bond Rating
Fitch Ratings has reaffirmed its top, Triple- A rating on Wake County’s current $1.9 billion in general obligation debt and handed out the same classification on a new $414.5 million refinancing bond issue the county will take to market April 28.
General obligation, or GO, bonds are backed by the county’s full taxing power and, as a result, are sold at a lower interest cost.
In its rating actions, Fitch remarked that Wake County’s unemployment rate, at 9.2 percent in February, generally has been lower than both the overall state and national rates during the downturn.
“Supporting the employment base is a diverse pool of employers, including state and local government, technology, health care, and other services,” Fitch says, pointing also to the county long history of conservative fiscal management.
Courtesy of TBJ
Read more: Fitch gives top ratings to Wake County bonds – Triangle Business Journal:
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