Barnstable County's general obligation bond rating has been upgraded to AA+ by S&P Global Ratings.
S& P cited several improvements in the county’s management that led to the boost in the County’s rating to AA+. These include adopting strong financial policies, best practices and procedures, above average reserves, low debt burden, manageable debt service costs and improvements in its overall financial performance. S&P also highlighted the administration’s two-year review and planning process of its unassigned fund balance which led to increased OPEB contributions, creation of a PFAS Stabilization Fund, and wise investments in the County’s capital needs.
“An upgrade to AA+ is an important endorsement of Barnstable County’s strong financial management policies and plans,” said Chairman Ronald Bergstrom. “We are dedicated to securing the County’s financial future while addressing long-term challenges such as retirement liabilities, capital needs, and PFAS remediation.”
(Photo: Barnstable County Commissioner)