Mercer Co. Earns Top-Tier Moody's Credit Rating, Reflecting Improved Fiscal Health

MERCER COUNTY, NJ - Moody's Ratings upgraded Mercer County's credit rating from Aa2 to Aa1 on June 12, citing financial stabilization efforts and economic development progress under County Executive Dan Benson, the County said Tuesday.

The ratings agency credited the county's management team, which took over in 2024, with stabilizing and rightsizing operations and growing financial reserves. Moody's also awarded the county's governance a G-1 score — the highest possible — noting the county has built a strong bench of civil servants and outside professionals to carry out its policy objectives.

"This credit upgrade is a strong validation of the work we have done to restore long-term financial health to Mercer County while continuing to invest in critical services and infrastructure for our residents," Benson said.

An Aa1 rating is among the highest assigned by Moody's. The upgrade can lower borrowing costs for future capital projects and infrastructure improvements, saving taxpayers money.

Moody's also highlighted Mercer's economic development pipeline, including the expansion of Children's Hospital of Philadelphia into a vacant Hamilton Township building and planned redevelopment of the county's riverfront area, which includes a former minor league baseball stadium. The agency noted the local economy has been growing materially faster than the national GDP.

"This upgrade reflects the steady progress Mercer County has made in strengthening our financial position while continuing to meet the everyday needs of our residents," said Commissioner Chair Terrance Stokes.

Commissioner Vice Chair Cathleen Lewis said the upgrade signals that the financial community is taking notice of the county's progress over the past two and a half years.

The full Moody's rating action is available at moodys.com.

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