Dakota County bond rating raised to 'AAA'
A leading rating agency has raised Dakota County's bond rating to AAA, the highest score possible. In issuing its new rating, Standard and Poor's Global Ratings attributed the upgrade to the strong economy and the county's management and financial performance. S&P concluded that Dakota County's outlook is stable.
"The upgrade reflects the county's extremely strong and growing economic base, very strong financial position, low debt profile and very strong management team," said S&P Global Ratings credit analyst Cora Bruemmer.
The county's S&P rating was upgraded from AA+. It now carries the highest possible ratings from both S&P and Moody's.
With a higher bond rating, Dakota County could receive lower interest rates on any borrowing it takes on. That saves taxpayers, whose dollars are used to cover the cost when the county borrows for important projects and investments.
"This upgraded bond rating is great news for Dakota County residents," Board of Commissioners Chair Liz Workman said. "It's a good reflection of the county's diligent stewardship of public funds, and the upgrade will save our taxpayers money in the long run."