KINGSTON, N.Y. – Ulster County Executive Pat Ryan announced today that the County has maintained its strong ‘AA’ overall credit rating in the latest S&P Global Ratings report. The County’s rating is a result of strong, financial management, budgetary performance, budgetary flexibility, liquidity, and debt and contingent liability position. The County was also noted for its economic growth.
Ulster County’s continued strength in the eyes of bond rating agencies is a direct benefit to taxpayers in the form of lower borrowing costs. As interest rates continue to climb, a strong bond rating corresponds with lower borrowing costs that will allow the County to continue to invest in long-term projects that serve constituents that require bond financing.
Ulster County Executive Pat Ryan
“S&P’s bond rating affirms the strong financial footing the County has in protecting and delivering results for taxpayers. As we approach next year’s budget process, I am committed to continue building and growing Ulster County’s economy and services, while also ensuring the highest level of fiscal responsibility.”
The report states that S&P Global Ratings believes that Ulster County will maintain good budgetary practices, supporting its current level of very strong financial flexibility and liquidity profiles. In addition, S&P believes that the county's ongoing improvement in its economic indicators and proximity to New York City will provide rating stability over the next few years.