Douglas County Standard & Poor's Rating Improves
The rating applies to bonds issued for the law enforcement center construction project, but it also looks at the county's overall financial strength.
The county's rating matters because the higher rating may mean lower interest rates on future borrowing -- which can save taxpayers money in the long run. The rating may be reviewed again in two years and may be raised again if current financial good practices continue.
Douglas County Commission Chairman Tom Worthan said he was "thrilled" with the boosted rating by S&P in a statement. "Very few -- if any -- counties of our size in Georgia have achieved an 'AA' bond ratings and carry no long-term debt of the General Fund,” Worthan said. “Not having to pay interest on loans allows us to keep our property taxes relatively low, and we are very mindful of every dollar that has been entrusted to us by our citizens.”