GENESEO — Livingston County recently received an ‘AA’ bond rating on its general obligation debt from Standard & Poor’s (S&P) Global Ratings. The “very strong” bond rating reflects the creditworthiness of the county as a borrower, which investors use as a guide to evaluate credit risk.
“The ‘AA’ rating is a major vote of confidence for Livingston County’s solid fiscal management and prudent budgeting practices,” said Livingston County Administrator Ian Coyle.
S&P, in its report affirming the bond rating, highlights the county’s multiple strengths: “The county has maintained a long history of strong budgetary performance, very strong budgetary flexibility, and very strong liquidity through its strong management with good policies and practices.” The report also provides a “stable” rating outlook for Livingston County as it continues to expand employment and residential opportunities.
Amy Davies, Livingston County Treasurer, said, “This favorable bond rating is extremely good news for our taxpayers. It allows us to borrow funds for capital projects at very low interest rates, which in turn, saves taxpayers significant dollars.”
“Fiscal responsibility is one of our top priorities, and I thank S&P for recognizing our efforts” said David LeFeber, Chairman of the Livingston County Board of Supervisors. “I would like to commend all Livingston County department heads and employees for their integral role in our strong financial position. Together, we work hard to control costs in efficient and innovative ways while maintaining a high level of service.”
For more information on the S&P report, contact the Livingston County Administrator’s office at 585-243-7040.