Middlesex County receives AAA bond rating from S&P Global Ratings and Moody’s Investors Service, two of the world’s foremost credit rating agencies

S&P Global Rating grades County AAA rating for 21st consecutive year

MIDDLESEX COUNTY, NJ –S&P Global Ratings and Moody’s Investors Service reaffirms Middlesex County’s financial stability and strength with recently announced AAA bond rating from each institution. This AAA from S&P reflects an unprecedented 21^st consecutive year Middlesex County has received this rating.

“These ratings enhance the County’s overall ability to continue to soundly invest in major capital projects, ultimately saving money for our taxpayers and contributing to our goal of creating a premier destination for those to live, work, and play,” said Director of the Middlesex County Board of County Commissioners Ronald G. Rios. “Owing to the strong leadership of our Board of County Commissioners, county administrator, and chief financial officer, this is a significant milestone in our County’s financial history.”

With a stable outlook projected by Moody’s, Middlesex County’s rating was based on several factors, including its educational and medical infrastructures, and consistent, annual growth over several years, according to an announcement made by Moody’s this week. Likewise, S&P’s recent report noted the County’s exceptional strength in several areas including its economy; management with good financial policies and practices; budgetary flexibility; liquidity; budgetary performance with an operating surplus; and institutional framework, which determined its prime grade of AAA.  To date, these consistent and extremely strong ratings have saved Middlesex County taxpayers more than an estimated $50 million dollars.

“For over two decades, the County has been committed to financial sustainability and growth. In addition to an $11.3 million bond sale last week which triggered the latest rating affirmation from S&P, the County has been growing its surplus, or rainy-day fund, to an unprecedented $80 million and reduced its debt service by 35 percent over the last 5 years,” said Middlesex County Commissioner Leslie Koppel. “The addition of the Moody’s rating further asserts the County’s position as a leader in the region for sound financial planning and management.”

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MIDDLESEX COUNTY, NJ

Middlesex County is home to numerous Fortune 500 companies, three universities, 18 park systems, and world-class healthcare and research facilities making it one of the nation’s most dynamic regions and a leader in technology, transportation, the arts, and food innovation. As one of the most diverse populations in the country, Middlesex County is home to over 832,000 residents living throughout 25 municipalities and employing nearly 40,000 people. Ranked #1 in the state for best schools, the County offers an award-winning vocational school system, a county college, and workforce development creating a unique ecosystem in which opportunities abound. Conveniently located between New York and Philadelphia, Middlesex County is a leading destination for businesses and residents alike to live, work, and play – and has been since the 17th century. For more information, visit middlesexcountynj.gov and find us on Facebook, Instagram and LinkedIn.