S&P: Warren County, NY GO Debt Rating Raised To 'AA' On Strong Finances
The rating action reflects S&P Global Ratings' opinion of the county's continued strong budgetary performance, coupled with its maintenance of strong reserves.
"We do not expect to change the rating within the two-year outlook period. However, holding all other factors equal, we could raise the rating if budgetary performance were to experience sustained improvement, leading to, and maintaining, very strong budgetary flexibility in line with the county's higher-rated peers," said S&P Global Ratings credit analyst Steven Waldeck. "Conversely, if budgetary performance were to weaken, leading to a decline in budgetary flexibility, we could lower the rating."
The stable outlook reflects S&P Global Ratings' opinion that the county will likely maintain, at least, adequate budgetary performance and, at least, strong budgetary flexibility based on its reserve policy.
The county's faith-and-credit pledge secures the bonds.