Bernalillo County Receives Triple A Bond Ratings from Moody’s, Fitch and Standard and Poor’s

1:09 PM

Bernalillo County has kept its triple A bond rating with the three major rating companies in the country, Moody’s, Fitch and Standard and Poor’s.

Bond ratings are critical to government agencies. The higher bond rating means the county receives lower interest rates when selling bonds to finance voter-approved projects.

“These excellent ratings show Bernalillo County is managing the taxpayers’ money responsibly and that translates into the county’s ability to get good financing for capital projects that improve the quality of life for everyone,” says Bernalillo County Commission Chair Lonnie C. Talbert

The bond rating companies cite Bernalillo County’s strong fiscal management, ample reserve levels, prudent budgeting and strong liquidity profile as contributing factors.

“Bernalillo County’s financial stability is also attributable to its conservative budgeting and forecasting built on longstanding financial management principles of structural balance and a multi-year perspective,” says Deputy County Manager for Finance Shirley Ragin.

County Manager Julie Morgas Baca adds, “This is a reflection of Bernalillo County’s very strong management with strong financial policies and practices. I want to acknowledge the dedication and expertise of Deputy County Manager Shirley Ragin and the entire Finance Division staff for their hard work in maintaining this excellent credit rating.”

On Wednesday, Feb. 12, the county will sell an $8.375 million general obligation bond package to finance storm drain, library, parks, and facility improvement projects. Over time, the county will incur less debt because of lower interest rates directly related to the triple A ratings.

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