Lucas County has again received strong ratings from two leading credit agencies that analyze risks for investors.
“These ratings reflect our sound fiscal management practices, strong financial policies, and our commitment to maintaining stable operations to ensure Lucas County services, programs, and projects are successful,” the board of commissioners said.
Moody’s Ratings maintained an Aa2 issuer rating on Lucas County and an Aa2 on its outstanding general obligation limited tax debt. The county has held an Aa2 rating, the third-highest on the agency’s scale since 2011.
Moody’s also assigned a MIG 1 rating to the county’s various purpose improvement notes, series 2024 and maintained a MIG 1 on the county’s outstanding general obligation limited tax-backed notes.
“The MIG 1 rating on the notes reflects the county’s strong underlying credit quality, demonstrated history of market access, and strong liquidity,” Moody’s wrote.
S&P Global Ratings affirmed the county’s general obligation long-term rating as AA. The rating “reflects our view of a broad and diverse economy anchored by Toledo, healthy reserves and a robust financial management framework,” S&P wrote in its report.
The agency also assigned its SP-1+ short-term rating to the county’s various purpose improvement notes, series 2024 and economic development nontax revenue notes, series 2024.
