International credit rating agency Fitch Ratings refigured its U.S. Public Finance Ratings, giving Tulare County an across-the-board improvement of its capital improvement and pension obligation bond ratings.
Tulare County’s capital improvement and pension obligation bond ratings improved from A (negative outlook) to A+ (stable outlook), according to Fitch Ratings.
Board of Supervisors Chairman Steve Worthley said the recalibration is reflective of Tulare County’s strong financial performance during tough economic times.
“The improvement to our Fitch rating is extremely good news,” Chairman Worthley said. “It’s a validation that Tulare County has exercised very good fiscal constraints.”
County Administrative Officer Jean Rousseau said the improved rating will ultimately save the taxpayers money should Tulare County choose to borrow money in the future.
“These ratings will allow for more flexibility and lower interest rates in financing long-term projects such as roads and facilities,” Rousseau said.