Kenosha County has maintained the highest bond rating achievable from Standard & Poors (S&P) for a second consecutive year, County Executive Samantha Kerkman announced today.
“Maintaining our fiscal health has been a priority for me since day one,” County Executive Kerkman said Thursday. “Great bond ratings and a great team of people that help us achieve those ratings are key for the county to continue building on our successes.”
The Triple A (AAA) designation is not only an indication of the county’s strong financial health, but also a mark of its ability to meet future financial commitments. It helps the county receive the lowest possible interest rates when securing funds.
In its report, S&P stated “the county will continue to show positive budgetary performance” and its "stable outlook reflects S&P Global Ratings' expectation the county will likely maintain balanced operation during an inflationary environment.”
County Executive Kerkman extended special thanks to the budget team – County Finance Director Patricia Merrill, Budget Director Barna Bencs, and Assistant Budget Director Matthew Leys – for their collective knowledge, guidance, and passion for financial excellence; and gratitude to the County Board Chair, Vice-Chair, and Finance & Administration Committee Chair for their commitment to good governance.
“This is terrific news,” County Board Chairman Gabe Nudo said. “A top rating agency has again recognized Kenosha County’s overall commitment to fiscal excellence; a team effort.”
The S&P report states the Triple A rating reflects its view of the county’s:
- Strong reserves, with additional levy capacity to provide a cushion in the event of budgetary stress.
- Strong level of financial management and successful implementation of sophisticated long-term financial projections.
- Adequate debt profile with participation in a well-funded state pension plan.
County Finance and Administration Committee Chairman Terry Rose said the county’s ability to maintain the rating is a testament to the county’s “financial management and soundness.”
Kenosha County is one of only seven of the state’s 72 counties to attain a Triple A rating.