- ‘Death tax’ rhetoric doesn’t address the facts
- ‘We’re back': second ‘Star Wars’ teaser drops
- Sunday Service: Legalizing competition in Illinois’ auto industry
- Cullerton: Don’t bet on right-to-work zones
- State Roundup: Rauner continues “Turnaround” pitch
- Open Government: Improved FOIA laws crucial
- Legislators ask Rauner to pony up pension details
- Rockford Art Deli providing homegrown artists a place to flourish
- Talcott acquisition continues west side trend
- Record Store Day brings vinyl back into the limelight
County board chairman announces county’s bond rate upgraded by two levels
From press release
Winnebago County was recently notified that its financial rating as determined by Moody’s Investor Service was upgraded from an A-1 rating to an Aa2 rating. The change moved the county from the mid-range security of level A range to the strong security level of Aa range. This is a two-step increase and will save the county considerable interest dollars on future borrowings.
The upgrade is the result of satisfactory financial operations supported by healthy reserves and, in particular, they highlighted the county’s policy of a reserve equal to 25 to 30 percent of annual General Fund expenditures. This was emphasized as a financial posture, offsetting the operating deficit because the economy.
The county is especially proud of Moody’s upgrade in light of the economic times we are dealing with locally.
From the June 2-8, 2010 issue