Broome County Government Credit Rating Improves
A major credit rating agency has given Broome County government's financial situation a vote of confidence.
Standard & Poor's has raised the county's long-term credit rating from "A" to "A+."
Bob Joseph/WNBF News [file][/caption]County Executive Debra Preston said the improved rating will be helpful when the county borrows money in the future.
Preston said the credit rating agency recognized the county's efforts to reduce operating debt.
Preston said if the county had not made "drastic changes," its credit rating would have been lowered. She said she'd made good on her promise to improve the county's financial situation.
The county executive noted another rating agency, Moody's Investors Service, earlier this year had upgraded the county's credit rating.
The improved credit ratings should result in lower borrowing costs in the future.