Good financial news for Summit County today as Moody's Investors Service affirmed a AA-1 bond rating for the county. Summit County Finance and Budget Director Brian Nelsen tells AkronNewsNow it's a recognition of the county's budget cutting over the past couple of years.
" What it means really from a more macro standpoint is it provides validation to the way in which we here at the County have managed our fiscal affairs, as we've worked our way through the recession and the aftermath of the recession," says Nelsen.
Brian Nelsen says there was another factor that influenced Moody's rating. " They also found a stable outlook to our financial future. Essentially we provided them with a five year forecasting trend and a five-year budget plan." says Nelsen.
Nelsen says the bond rating will also help the county's Port Authority to issue bonds for the Goodyear world headquarters project, at a lower interest rate.