Cobb County has received a triple AAA rating by the three leading New York-based rating agencies for the 26th consecutive year. Each rating agency cited Cobb County’s solid financial footing, low debt, and budget flexibility.
Moody’s Investor Service pointed out economic headwinds facing the county, including a tight labor market and commercial real estate market pressures. But they concluded, “the county is well positioned to withstand these headwinds due to new development activity, prudent budgeting, and a substantial amount of revenue raising flexibility.”
Moody’s, Fitch Ratings, and S&P Global Ratings gave Cobb their highest rating. The reports came after a Cobb County contingent visited the agencies during a trip to New York earlier this year. The ratings will allow the county to receive the lowest rates should they need to borrow money. Cobb County is one of only 51 counties in the United States with a triple AAA rating from all three agencies and one of only a few who have maintained that status this long.
“I am thrilled to learn that Cobb County has received triple AAA ratings for another year,” said Cobb Board of Commissioners Chairwoman Lisa Cupid. “This shows the great work of our finance department in coordination with elected officials and county staff to be good stewards of taxpayer money. It also gives confidence to existing businesses and those considering locating to Cobb about our stability.”