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Oneida County Remains On Solid Financial Ground

Jim Rondenelli, WIBX
Jim Rondenelli, WIBX

There’s some good financial news for Oneida County.

The county’s credit rating has been confirmed by the three major national credit agencies.

Fitch again rated the county AA for 2017, while Standard and Poors repeated its AA-  rating and Moody’s reaffirmed its A1 rating and removed the negative outlook assessment it issued last year.

Moody’s rating was attributed to the county’s “outstanding general obligation debt”, which led to its removal of the negative outlook issued in 2016.

“The removal of Moody’s negative outlook is great news,” said Oneida County Comptroller Joseph Timpano. “A stable outlook results in a more favorable interest rate, which in turn saves taxpayers money. We will continue to be a steward of those dollars by always budgeting conservatively and borrowing responsibly.”

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