Bucks County's Financial Outlook Has Stabilized: Credit Rating Agency

Doylestown PA

25 April, 2022

12:07 PM

Description

BUCKS COUNTY, PA — Bucks County's financial outlook has improved since the current administration took office, a credit rating agency said in its April 13 report on local finances. S&P Global Ratings said "strong management with good financial practices" in Bucks County since January of 2020 has fostered a county with a stable outlook, rather than a negative one. The report also affirmed Bucks' AAA credit rating, the county said Monday. "From our first days in office, this administration aimed to tackle the financial challenges facing Bucks County without sacrificing the services we provide to our residents," Commissioner Chair Bob Harvie said. "To me, this rating is proof that the hard work of our county staff and first-rate management team is paying dividends and safeguarding our county's future." S&P also said the county's "very strong economy" and "very strong reserves" bolstered by federal pandemic relief and recovery funds factored into the rating. The good news comes less than a year after Moody's Investors Service made similar changes to its read of the county's credit, removing its negative view in favor of a stable outlook with a AAA rating. Know what's going on in Bucks County when you subscribe to Patch.