Moody's affirmed its Aa2 rating and commented: ""The Aa2 rating is based on the county's strong financial operating history leading to an ample reserve position, strong management with conservative budgeting practices, a sizeable tax base with average demographics, and manageable debt and pension burdens."
Standard & Poor's continued its AA+/Stable rating citing: "The rating reflects our opinion of the following factors for the county: Adequate economy, with access to a broad and diverse metropolitan statistical area (MSA); very strong management, with strong financial policies and practices under our Financial Management Assessment (FMA) methodology; strong budgetary performance, with operating surpluses in the general fund and at the total governmental fund level in fiscal 2016; very strong budgetary flexibility, with an available fund balance in fiscal 2016 of 43% of operating expenditures."
Fitch maintained its AA/Stable rating and commented: "The 'AA' IDR reflects the county's sound level of expenditure flexibility, expectations for limited revenue growth over the near term, low long-term liability burden and exceptionally strong gap-closing capacity."
Wicomico County's 2017 bond sale will take place on Tuesday, December 12th, 2017 with closing on the transactions scheduled for December 28, 2017. Wicomico County's bond issue includes $10,000,000 in new borrowing for School, General Service, and Public Safety and Roads Department projects. Subject to market conditions, the County may also refund approximately $11,395,000 of outstanding series 2009 Build America Beautiful Bonds in order to realize debt service savings.
County Executive Bob Culver commented "I am very pleased the rating agencies have confirmed that the County is going in the right direction. My Administration will continue doing the right things to continue positive, strong credit ratings."
Keep up good work bob
ReplyDeleteWhen will he do something about City of Salisbury's back due rent? He has yet to announce anything about the rent problem.
ReplyDeleteWhat do you think he should do?
DeleteNo idea - but if the city owes the county, why hasn't Culver put a plan in place to collect the money. Joe through his blog is feeding the public the information concerning the rent while Culver and Council appear to be hiding Joe's facts under the rug?
DeletePrint it and frame it because all that is about to change come 2018 if Day get's his hands on controlling both city and comes nty resources
ReplyDeleteThe County can sell the GOB, keep all the proceeds and build a new one, strictly for County use only, half the size of the original and pocket the difference.
ReplyDeleteAll this article tells me that they are collecting to many taxes. "Sizeable tax base with limited demographics""Operating surpluses in General Account.""strong budgetary.... You get the picture. I probably misread this whole article because I am appalled at the amount of taxes we citizens must pay.
ReplyDeleteGreat Job Bob.
ReplyDeleteHow about you announce about city of Salisbury filing law suit on station 13 . That law suit includes the station and certain members . Way to go Salisbury. They are a non profit you idiots.
ReplyDeleteOh that should be a good one . Who goes after a company like that. Let's guess the city who all they want is money . The mayor must be mad at the wife again cause she seeing sir in another county alot . Hey mayor don't take it out on a fire company jerk.
DeleteThis is horrible the city has always been corrupted.
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