Williamson County has once again affirmed its AAA bond rating, the highest rating possible, with both rating agencies Fitch Ratings and Standard & Poor Global.
Securing a bond rating is the first step prior to issuing debt. On March 21, the Commissioners Court approved $150 million in projects which will be funded by a Tax Anticipation Note for road projects and the expansion/renovation of the Juvenile Justice Center.
“Williamson County has once again earned a AAA bond rating due to our fiscally conservative financial policies and practices. We take our responsibility as fiscal managers of the resources the people have entrusted to us very seriously. We are proud that the rating agencies have also shown their appreciation for our policies through granting us the highest rating a government agency can receive,” said County Judge Bill Gravell.
Standard and Poor’s ratings reflect on their assessment that Williamson County has a “very strong management with strong financial management policies” that include an “annual budget, which includes revenue and expenditures based on a thorough and conservative trend analysis, coupled with using demographers to predict growth trends.”
Fitch Ratings noted among their Key Rating Drivers that “the county’s financial flexibility is bolstered by ample reserves and a pay-as-you-go capital program consistently funded from reserves in excess of the policy target.” In addition, Fitch “expects that the county will demonstrate strong financial resilience through future economic downturns due to its superior inherent budget flexibility supported by its high revenue-raising capacity and solid expenditure controls.”
“The County’s reaffirmed AAA rating is extremely gratifying,” said Williamson County Auditor Julie Kiley.
The ratings reports are available on the County’s website at https://wilco.mygovcenter.com/cms/cms?id=82 under Other Financial Reports.