Gwinnett's Credit Rating Back Up to a Stable Outlook

Gwinnett officials announced that Moody’s Investors Services notified them this week that it had revised the county’s Aaa credit rating back up to a stable outlook. It had been downgraded to a negative outlook in August following confirmation of the U.S. government’s Aaa rating and assignment of a negative outlook due to the national debt ceiling dispute last summer. Gwinnett was one of the 161 governments that Moody subsequently placed on a watch list for a possible credit rating downgrade.

“I am grateful to the finance staff members who were responsible for the preparation and communications with the rating service,” Commission Chairman Charlotte Nash said in a press release. “Few events in my career have been more exciting than the attainment of AAA/Aaa from the three rating services. I am thrilled to have Moody's return us to stable outlook.”

Since the August announcement, Moody’s has been in discussions with each of the credit issuers and also looked into their indirect connection to the U.S. government. According to the rating agency, approximately 4 percent of all Moody’s-rated state and local governments are rated Aaa with a stable outlook.

Officials attribute Gwinnett maintaining an Aaa from Moddy’s and AAA from Standard & Poor’s and Fitch Ratings since 1997 to its “conservative fiscal policies and management, multi-year financial planning and ample reserves.”