Gwinnett County Maintains Best Bond Rating

LAWRENCEVILLE, GA — Gwinnett County will continue to be able to borrow money at the most favorable interest rates, thanks to maintaining its top-tier bond rating.

For the 20th year, Gwinnett County has been awarded a AAA bond rating by all three bond-rating agencies. That's the highest possible rating for a local government.

Only 49 counties in the entire nation have a AAA bond rating.

Based on the new rating, the county has been able to refinance debt on Coolray Stadium and pay off some debt early — resulting in an $80 million savings in future interest payments.

The latest rating was handed out in December, after the county's finances went through review by analysts from S&P Global, Moody's Investors Service and Fitch Ratings.

"I think this demonstrates that Gwinnett County is keeping a close eye on taxpayers’ money," said Gwinnett County Commission Chairwoman Charlotte Nash. "We aren’t going to leave money on the table."

Financial Services Director Maria Woods said the Triple AAA bond rating means the county can borrow money at most-favorable interest rates at the time the bonds are issued and also refinance the bonds when the market improves and interest rates drop.

Woods said that while the credit rating is a reflection on the financial condition of the county, it is also influenced by sound management decisions and institutional practices. Woods credited the Board of Commissioners for fiscal flexibility, smart debt management and financial policies such as multi-year planning, controlling expenditures and a pay-as-you-go capital program.

The bond-rating agencies scrutinized multiple aspects of the county, including the county’s finances, management, economy, debt, and budgetary performance and flexibility

Cobb County is the only other county in Georgia to have a similar rating.

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