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Two National Organizations Upgrade County’s Bond Rating

March 11th, 2013 by WCBC Radio

In the past week, the Allegany County Commissioners have been notified that two national financial organizations have given upgrades to the county’s bond rating. Standard and Poors and Moodys both provided higher ratings for the county- and that will dramatically improve the county’s financial situation. Moody’s and S&P are the two most prestigious bond-rating companies in the world.  The upgrade is important because the county has bonds ready to go to market. Commissioners are refinancing part of the county’s debt by issuing bonds at a lower interest rate. Commissioners approved a resolution to allow the refinancing to go forward Feb. 14. County Finance Director Jason Bennett said the move will refinance various bond issues from 2001, 2004 and 2006…

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