A global credit rating agency is moving one county to the fourth best credit rating possible.
Bay County Executive Director Tom Hickner says Moody's Investors Service upgraded the county's rating, calling it a financial victory. Hickner said the news is one of the most positive financial successes that the county has achieved in several years.
Hickner said the upgrade comes after years of budget surpluses throughout the county. Bay County moved up from an A1 rating to Aa3, which is the fourth highest after Aa2, Aa1 and Aaa. Aaa is the highest ranking handed out by the credit service.
Bay County has experienced many years of budget surpluses and the rating is just another sign of the county's financial success. The report forecasts continued financial success for Bay County.
Details of the report will be provided at a board of commissioner's meeting scheduled for Tuesday.
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