S&P Global Ratings recently affirmed its ‘AAA’ long-term rating of Hamilton County, which is the highest rating that can be given. In addition, the agency assigned its ‘AAA’ to the county’s bridge improvement bonds that are scheduled to close in September 2022. The outlook is stable.
The bond proceeds will be used to finance a new bridge project over the White River. This will be done in conjunction with the City of Noblesville. The bridge is the critical component to Noblesville’s Pleasant Street project, which city officials say will provide traffic congestion relief on State Road 32.
This is the second year the county has received a AAA rating, and it is still the only county in Indiana that holds a AAA rating from S&P.
Heirbrandt
“This rating not only saves our residents money, but also signals a sound and stable economic climate,” County Commissioner Mark Heirbrandt said. “It certainly speaks to the hard work and teamwork of our county commissioners, county council, and finance team.”
In its report, S&P analysts noted that the county has “[a] very strong economic profile, characterized by robust economic growth … wealth levels that are among the highest in the state, [and] robust tax base growth and strong budgetary management practices…”
“To improve our credit rating, while we continue to recover from the effects of the pandemic and ramp up numerous projects is simply exceptional,” Heirbrandt added. “Our county is fiscally strong, disciplined, resilient, and poised for more growth in the future.”
Analysts further elaborated that the county’s financial position will remain very strong and will be supported by its proactive budgetary management.