Title:
NEW ITEM - Bond Rating Announcement
Summary
ACTION:
Receive as information the bond rating announcement for Mecklenburg County
Staff Contact: Dena R. Diorio, County Manager
Presentation: Yes
BACKGROUND/JUSTIFICATION:
On August 16 and 17, 2018 the County met with all three rating agencies (Fitch, Moody’s, and Standard & Poors) to request bond ratings and to present an economic and financial update of Mecklenburg County. After those meetings, all three rating agencies rated the 2018 general obligation bonds AAA; their highest rating. The rating agencies also affirmed the current AAA rating. Having a AAA rating lowers the interest cost to the County and it makes its debt more attractive in the market for buyers seeking low risk.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
FISCAL IMPACT: