ORANGE COUNTY, N.Y.—S&P Global Ratings reaffirmed Orange County’s AA+ bond rating on Aug. 11. The AA+ rating is one rank below the S&P’s top AAA rating.
Bond ratings indicate to investors the stability and safety of an investment. With higher ratings, investors are more likely to invest in county bonds. OC has sold $23.6 million in public improvement serial bonds.
The county’s Commissioner of Finance, Kerry Gallagher, told The Epoch Times that though the county doesn’t rely on bonds to operate, it is a useful tool for spreading out the cost of long-term assets over time….