Cobb Receives AAA Rating
Chairman Tim Lee said the county is in strong financial standing.
Cobb County was recently recognized for its fiscal responsibility by the top three bond rating agencies, Fitch Ratings, Moody’s and Standard and Poor’s.
Fitch assigned its highest rating for tax anticipation notes issued to Cobb, and also affirmed the AAA rating on bonds issued by Cobb Solid Waste Management Authority.
The rating agency stated in a press release that the county’s “general fund operating results were strongly positive for the second consecutive year in fiscal 2012.”
According to Cobb Commission Chairman Tim Lee, some of the key rating drivers include sound cash flows, stable operating results, low debt, credit profile, a favorable economic profile and budgetary balance in fiscal 2013 and 2014.
"This confirms the county’s strong financial standing," Lee said in a Monday newsletter to Cobb residents.
Cobb’s TAN offering received the highest rating possible from Moody's, and the agency reaffirmed the county’s AAA rating on general obligation debt.
Standard and Poor’s also issued Cobb the highest score for short term rating, and will be assigning a rating on the county's bond rating in May.