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Executive Budish Issues Statement Regarding County’s Sales Tax Revenue Bonds Rating

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Media Contacts:
Mary Louise Madigan: 216-698-2521; mlmadigan@cuyahogacounty.us

 

CUYAHOGA COUNTY, OH — Cuyahoga County’s Sales Tax Revenue Bonds have been rated ‘Aa2’ by Moody’s and ‘AAA’ by Standard and Poor’s. Sales tax ratings reflect debt criteria that factors in the strength and stability of pledged revenue as well as general Cuyahoga County credit quality. Bonds are the easiest indicator of the economic health of a community.

Cuyahoga County Executive Armond Budish issued the following statement:

"The County is excited that the County's Sales Tax Revenue Bonds have again been rated an excellent 'Aa2' by Moody's, and 'AAA' by Standard and Poor's. These ratings have been earned by strong fiscal management and careful budgeting. The 'AAA' rating is the highest rating given, and in fact it is higher than the bond rating for the federal government!

“Thanks go to the County’s entire fiscal team, led by Mike Chambers, Walter Parfejewiec, and Robert Franz, along with County Council. The County’s high bond rating means that when the County finances projects, the cost to the taxpayers will be less.”