Washington County’s Credit Rating Will Make You Jealous

Washington County announced Wednesday that it has been awarded the highest possible credit rating by Fitch Ratings. The county’s Issuer Default Rating (IDR) and outstanding general obligation (GO) bonds have been upgraded to AAA, the pinnacle of creditworthiness evaluations.

The prestigious rating reflects Washington County’s commitment to sound financial management and strategic long-term planning.

The AAA rating indicates the county’s strong capacity to meet its financial commitments and is a clear signal to investors of the county’s robust economic health.

“The AAA credit rating is a significant achievement for Washington County,” said Ryan Sullivan, Washington County Clerk-Auditor. “It’s a testament to our prudent fiscal policies, effective governance, and the hard work of our dedicated staff. This rating will enable us to continue investing in the county’s future while securing lower borrowing costs.”

The upgrade to a AAA rating is expected to benefit taxpayers through reduced interest rates on future bond issuances, saving millions of dollars over time. It also places Washington County in an elite group of local governments recognized for their exceptional credit standing.

Out of 3,006 of counties in America, only 73 have achieved a AAA credit rating, putting Washington County’s financial standing in the top 3% in the United States. We truly are ‘America’s County’”, stated Commissioner Victor Iverson

While this new credit rating is important, we don’t borrow much and we don’t have much debt. However, our residents should feel confident that in the event that we absolutely needed to go into debt, we could secure the best rate possible.”, Commissioner Adam Snow

“We are extremely pleased with the upgraded rating and what it means for our community,” stated Gil Almquist, County Commission Chair. “It reflects our strong economic base, diverse revenue streams, and our commitment to maintaining healthy reserve levels.”

Washington County extends its gratitude to its residents, whose support and engagement are integral to the county’s success. The county pledges to continue its tradition of fiscal responsibility to ensure a prosperous and sustainable future for all.

For more information, please contact: Washington County Auditor (435) 301-7220.