Summit County has received high marks and a stable outlook from two credit rating agencies for an upcoming bond issue.
Standard & Poor’s and Moody’s Investors Service last week affirmed their Aa1 and AA+ ratings, respectively, the county announced Tuesday.
The county anticipates issuing about $34 million in general obligation bonds this fall.
A portion will be used to repay outstanding bonds at a lower interest rate.
The bond issue also will pay to upgrade the regional emergency radio system, pay for elevator improvements and the county office building in downtown Akron and purchase, renovate and furnish a new early voting center for the Board of Elections.
“These ratings are excellent news and reflect positively on the county’s strong fiscal management and pro-active approach to budgeting,” interim County Executive Ilene Shapiro said in a prepared statement.
Ratings help investors analyze risks when buying bonds that pay for projects.
Any drop could result in a higher interest rate.