Forsyth County Earns Top Bond Rating from Moody's

Forsyth County government has received the highest financial rating it can from a financial agency, a triple-A bond rating from Moody’s Investors Service.

The rating means a stable outlook to the county's $16.6 million general obligation bonds and its Water and Sewerage Authority's $27.4 million refunding revenue bonds.

Commission Chairman R.J. (Pete) Amos credited several key reasons for the highest-quality rating.

“The county’s sound financial policies, conservative budgeting, and talented staff and legal team all play a role in our financial stability, and in achieving this rating,” he said.

Moody's Aaa rating reflects Forsyth County's sizeable tax base and diverse economic profile, along with its strong financial performance in recent years and large reserves, and manageable debt levels.

The $16.6 million in general obligation bond proceeds represent the remainder of the $100 million Parks, Recreation and Green Space Bond approved by voters in 2008. The money will be used to fund park and green space projects.

The Water and Sewer bonds will refund bonds from two series of outstanding debt for an expected net present value savings of just under $2 million, with no extension of maturity. This savings, as a percentage of refunded bonds, is 6.91 percent of refunded principal.

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