Moody’s Investors Service upgrades Montgomery County’s Bond Rating to Aa1 with a positive outlook.
Montgomery County Chief Financial Officer, Dean Dortone cites several reasons for the upgraded bond rating.
“Some of the growth indicators throughout the county have improved, particularly in the area of development which increases the real estate tax assessment base. Some of the good development that’s going on in King of Prussia and Conshohocken are some of the reasons why the outlook has been upgraded to a positive outlook.”
Dortone says, there are not a lot of Aa1 bond ratings across the country, but he says, the ultimate goal is to get back to AAA Bond Rating status. Dortone says, the rate at which the county can borrow money under the Aa1 Bond Rating is good, but he adds, an upgrade to AAA Bond Rating status would further increase the county’s borrowing power at the best rates available.