Standard and Poor’s (S&P) Global Ratings announced it has assigned Sedgwick County its high credit rating (AAA). Credit ratings, which are updated annually, note an organization’s creditworthiness and its ability to meet its financial commitments.
“This report is very good news for us in Sedgwick County,” Commission Chairman David Dennis said. “By maintaining these high credit ratings, Sedgwick County is able to finance several road and bridge projects and support economic development.”
The report highlighted a number of factors leading to the high rating including the County’s strong management and financial policies and practices, a strong budgetary performance with operating surpluses in the general fund and an adequate economy (with a broad, diverse metropolitan statistical area).
Sedgwick County is able to capitalize on its creditworthiness to secure “prime” interest rates when debt is issued, which saves local tax payer dollars in the long term.