Healthy score reflects confidence in county’s fiscal management, saves taxpayers money

Citing the county’s conservative budgeting, strong governance and its growing and diverse economy, Moody’s Investors Service on Tuesday reaffirmed Mercer County’s global long term and short-term ratings at Aa2, County Executive Brian M. Hughes announced today.

“This news reflects Moody’s confidence in Mercer County’s ability to manage its finances,” said County Executive Hughes. “This reaffirmation recognizes the county’s stable finances, shows businesses that Mercer County is a great place to grow, and cites our access to job centers.”

In announcing their decision, Moody’s analysts noted that Mercer County “is well positioned to continue its trend of satisfactory finances,” and that Mercer’s economy “has grown faster than the nation’s.”

The pandemic has only a limited impact on the county’s economy, and in December 2022, the unemployment rate was 2.5 percent, lower than state or national rates, according to Moody’s.

Mercer County has consistently held a solid credit rating. Higher bond ratings mean the county can borrow at lower interest rates and make the county’s bonds more attractive for investors, thus saving taxpayer money.

Also, yesterday, Moody’s Investors Service has assigned a Moody’s Investment Grade MIG 1 rating – the highest quality — to Mercer County’s $155.4 million Bond Anticipation Notes of 2023, Series A, stating the rationale for the rating “reflects the county’s strong underlying credit quality, reflected in its Aa2 stable issuer rating, and demonstrated history of market access.”