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Posted on: February 2, 2024

Clark County maintains Aa2 rating from Moody's Investor Service

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SPRINGFIELD, OH (Feb. 2, 2024) – Moody's Investors Service recently assigned an Aa2 rating to Clark County, the company wrote.

About $14.5 million in upcoming bonds will be used to finance renovations at the Clark County Common Pleas Court House building. Following the sale of the bonds, the county will have about $29 million in outstanding debt, Moody’s said.

Outlooks are typically not assigned to local governments with this amount of debt, Moody’s wrote. The county’s financial position remains solid due to "growing sales and property tax revenue that will support growing salary expenditures,” the report said.

“This achievement could not have happened without the County Commissioners’ strong financial management,” said Clark County Administrator Jenny Hutchinson. "Clark County continues to be excellent stewards of tax payer’s dollars."

The county also received an Aa2 General Obligation-Limited Tax (GOLT) rating -- the same level as the issuer rating -- because of the county's full faith and credit pledge to pay debt service, the report said.

The county could improve its rating based on a "sustained growth in reserves or liquidity" and "strengthening of resident income and wealth ratios" in line with Aa-rated counties, Moody’s said.

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Media contact:

Clark County | Michael Cooper, Public Information Officer, 937-521-2031