Washoe County retains high bond rating

Washoe County’s new FY15-16 Budget Overview available.

Reno, Nevada. Aug. 14, 2015. Following a recent comprehensive review, Standard & Poor’s Ratings Services and Moody’s Investors Service have retained Washoe County’s General Obligation bond ratings of AA and Aa2, respectively. The high bond ratings from the two nationally recognized Credit Rating Agencies reflect Washoe County’s low debt, sound financial management and a growing and diversifying economy. The retention of the high bond rating allows Washoe County to continue receiving low interest rates for capital project financing which translates directly as savings for taxpayers.

“This is a great, continuing tradition for our team,” said Washoe County Manager John Slaughter. “The fiscal stewardship of Washoe County employees throughout the organization, along with the ongoing policy direction of the County Commission is acknowledged by these nationally recognized agencies in retaining these very strong credit ratings.”

In addition to noting the region’s strong economy, Standard & Poor’s specifically pointed out that it viewed the County’s management, budget performance, liquidity, budgetary flexibility and debt profile all as “strong” or “very strong”. Similarly, Moody’s cited Washoe County’s fiscally conservative management and its “commitment to maintaining budget balance and solid reserve levels.”

“We believe the AA and Aa2 bond ratings reflect the hard work Washoe County staff and the Commissioners have done to make sure Washoe County remains financially stable and well positioned for the future,” said Washoe County Chair Marsha Berkbigler.

In an effort to help citizens better understand Washoe County’s budget and how it impacts their daily lives, a Fiscal Year 15-16 Budget Overview has been posted online and will be provided at various County facilities.

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