Standard & Poor’s Ratings Service upgrades OC

Oconee County Administrator Scott Moulder announces that Standard & Poor’s Rating Services has increased the county’s general obligation debt rating to “AA” indicating a “very strong capacity to meet financial commitments” up from the previously-rated “AA-,” which indicated a “high probability of meeting financial commitments.” “Oconee County is and has been diligent in planning, exhibiting responsible fiscal policies,” said Moulder. “This increase in our rating is a reflection of the stability of the community as a whole, which encompasses our strong business and industrial sector as well as the overall financial performance of Oconee County itself.” The raised rating reflects Standard & Poor’s view of the county’s “very strong” budgetary flexibility and liquidity, and is a reflection of the agency’s application of Local Government General Obligation criteria, according to a statement released by the agency’s credit analyst James Trejo. Standard & Poor’s upgrade is based primarily on Oconee County’s sound financial operations, which have resulted in historically strong debt service coverage. Oconee County strives to provide quality, relevant services to its citizens and utilizes funding for improvement and expansion of public services including roadways, sewer infrastructure, public safety and public works.