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Bernalillo County Receives Triple-A Bond Ratings

02/17/2017
4:28 PM

Bernalillo County has again kept its triple-A bond ratings, the highest possible given by Moody’s, Fitch and Standard and Poor’s.

Bond ratings are critical because a higher rating means lower interest rates for the county when selling bonds to finance voter-approved projects.

Bernalillo County earned triple-A ratings for its exceptional financial strength, including:

   

•           Very strong management, with strong financial policies and practices.

•           Strong budgetary performance and flexibility.

•           Strong debt management position.

•           Very strong institutional framework.
 

“Bernalillo County is a diverse community, and the economic engine for the State of New Mexico,” Bernalillo County Commission Chair Debbie O’Malley says. “During a time when the economy is still recovering, the AAA rating is a direct result of the county’s ability to run a more efficient government operation, along with putting new financial policies in place that better manage taxpayer money.”

“Infrastructure and services for our community benefit when Bernalillo County has strong financial management,” County Manager Julie Morgas Baca says. “I thank Deputy County Manager Shirley Ragin and the county’s Finance Division for their dedicated efforts to earn these ratings.”

On Tuesday, Feb. 21, the county is planning to sell a $19.2 million general obligation bond package to finance roads, libraries, parks and storm drain projects.

Over time, the county will receive lower interest rate charges by maintaining its triple-A ratings.

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