{"id":2147,"date":"2022-06-02T11:14:33","date_gmt":"2022-06-02T18:14:33","guid":{"rendered":"https:\/\/news.venturacounty.gov\/?p=2147"},"modified":"2022-06-03T20:40:11","modified_gmt":"2022-06-04T03:40:11","slug":"county-awarded-highest-credit-ratings","status":"publish","type":"post","link":"https:\/\/news.venturacounty.gov\/en\/county-awarded-highest-credit-ratings\/","title":{"rendered":"County awarded highest credit ratings by nation\u2019s top credit rating firms"},"content":{"rendered":"\t\t
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Downloads:\u00a0<\/strong>Article<\/strong>\u00a0–\u00a0English <\/a>| Spanish<\/a><\/p>

Ventura, CA \u2013 The nation\u2019s two top credit rating firms \u2013 Moody\u2019s Investors Service and Standard & Poor\u2019s, have awarded the County with their highest short term credit ratings. These ratings enable the County to borrow funds at lower interest rates to fund critical needs, saving substantial taxpayer resources over time.<\/p>

\u201cI am most appreciative for this recognition of the County\u2019s ongoing pledge committing ourselves to prudent and conservative fiscal practices by way of policy and culture especially given the challenging years that we have most recently endured due to the pandemic,\u201d said Interim County Executive Officer Dr. Sevet Johnson. \u201cThese ratings are a testament to the efforts of the Board of Supervisors as well as the managers and personnel who daily take on the task of ensuring our County is fiscally strong. Being awarded the highest ratings again demonstrates the culture of our institution and the resiliency of our local taxpayers-both individuals and businesses who have continued to make payments during challenging times resulting in a strong tax base. The fiscal judiciousness practiced with these public funds allows us to respond with agility to provide needed services to our community appropriately.\u201d<\/p>

The Moody\u2019s report noted that the assignment of the MIG1 rating is driven by the County\u2019s very strong long-term quality, as reflected in the Triple A issuer rating (the highest long-term rating). The MIG 1 also incorporates the robust projected liquidity position at the time of note maturity, a track record of accurate revenue forecasts and budgeting assumptions, the quality of cash management and strong note structure.<\/p>

\u201cOur credit rating is a reflection of the strong fiscal guidance provided by our Board and the dedication of our finance and budget staff throughout our organization,\u201d said Kaye Mand, County Chief Financial Officer \u201cThe careful management of public funds has allowed our County to weather recent emergencies making resources available for those in need while also continuing ongoing programs and initiatives.\u201d<\/p>

Moody\u2019s and Standard & Poor\u2019s provides independent assessments of the creditworthiness of the County as a borrower, which investors use as a guide to evaluate credit risk. Government credit ratings are like a consumer credit score such as FICO. The county\u2019s status as a low credit risk means the interest rate it pays to borrow money is lower than it would be otherwise, thus providing flexibility and security in funding vital services for the County\u2019s constituents. When the County can borrow at a lower interest rate, all county residents\u2019 benefit.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Downloads:\u00a0Article\u00a0–\u00a0English | Spanish Ventura, CA \u2013 The nation\u2019s two top credit rating firms \u2013 Moody\u2019s Investors Service and Standard & Poor\u2019s, have awarded the County with their highest short term […]<\/p>\n","protected":false},"author":7,"featured_media":2151,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[6],"tags":[],"class_list":["post-2147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/news.venturacounty.gov\/en\/wp-json\/wp\/v2\/posts\/2147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.venturacounty.gov\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.venturacounty.gov\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.venturacounty.gov\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/news.venturacounty.gov\/en\/wp-json\/wp\/v2\/comments?post=2147"}],"version-history":[{"count":0,"href":"https:\/\/news.venturacounty.gov\/en\/wp-json\/wp\/v2\/posts\/2147\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.venturacounty.gov\/en\/wp-json\/wp\/v2\/media\/2151"}],"wp:attachment":[{"href":"https:\/\/news.venturacounty.gov\/en\/wp-json\/wp\/v2\/media?parent=2147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.venturacounty.gov\/en\/wp-json\/wp\/v2\/categories?post=2147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.venturacounty.gov\/en\/wp-json\/wp\/v2\/tags?post=2147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}