Categorized | News

County’s strong bond rating affirmed

MEDIA RELEASE

Fitch Ratings on Wednesday affirmed the County of Hawaii’s strong bond rating, citing the county’s sound financial management and conservative budgeting as grounds to maintain the county’s “AA-” classification.

Moody’s Investors Service and Standard & Poor’s Rating Services also affirmed the county’s ratings.

“This rating review by nationally recognized experts is a testament to our careful, conservative approach to balancing the budget in very challenging economic times,” Mayor Billy Kenoi said. “This demonstrates that we have taken a responsible approach to cutting costs and controlling spending, and I am very pleased that these agencies recognize the hard work by all of our employees. I want to thank all those who worked so hard to keep our county on sound financial footing.”

The ratings reviews were prompted by county plans to issue $97.52 million in bonds on Jan. 29, including $47.52 million that will be used to refinance existing debt to take advantage of the exceptionally low interest rates.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

 

 

Become a fan on facebook

 

 

Quantcast
%d bloggers like this: