BERNALILLO COUNTY, N.M. (KRQE) – Bernalillo County has earned a triple-A bond rating for 12 straight years now. Three major companies, Moody’s, Fitch, and Standard and Poor’s, give the bond ratings throughout the country.
These ratings are very important to government agencies, as a higher bond rating gets counties lower interest rates when financing voter-approved projects. Bernalillo County has been credited for its “strong fiscal management, ample reserve levels, prudent budgeting, and strong liquidity profile.”
Bernalillo County is planning to sell $17.9 million in bonds to finance storm drain, library, park, and facility improvement projects. The recent good bond rating means the county will acquire less debt due to the lower interest rates.
“The county’s triple-A bond rating by all three rating agencies reflects our strong financial policies and spending based on sustainable levels of revenue while maintaining adequate reserves,” says County Manager Julie Morgas Baca. “I can’t say enough about the county’s finance team and the work they do every single day to responsibly manage the county’s budget in such a way that allows us to obtain the best possible financing for quality-of-life construction projects.”