S&P Global Raises Debt Rating For Fulton County

JOHNS CREEK, GA -- Last week, S&P Global Ratings announced that it's raised the long-term rating on Fulton County's general obligation debt.

The government's rating has improved from AA+ to AA, the organization said. The increase is based on a stronger economy and the county's finances, the office of District 2 Commissioner Bob Ellis said in a press release.

Furthermore, one of the primary financial factors cited in the upgrade was Fulton County’s revised fund balance policy, which was implemented in 2015 through a resolution initiated by Ellis.

“This debt rating upgrade demonstrates the importance of our ongoing efforts to maximize the efficiency of our operations,” Ellis said. “I am pleased to see this recognition of our efforts in stronger fiscal management.”

The rating came along with increased ratings for several other agencies for which Fulton County is a key financial stakeholder, including the Fulton-DeKalb Hospital Authority, Fulton County Facilities Corp. and the Fulton County Recreation Authority.

“Holding all other factors equal, if the county were to adopt and maintain more formalized financial policies incorporating long-range planning and reduce its debt burden, particularly for retirement benefits, we may raise the rating," S&P said.

Fulton county commissioners earlier this year developed and approved a long-range strategic plan and performance management system, an initiative that focused on the efficient and effective utilization of taxpayer dollars and measuring progress, accountability and outcomes.

Commissioner Ellis added he's committed to "ensuring that the County’s financial resources are managed wisely and that additional policies and procedures are transparently developed that will lead to further ratings upgrades.”

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