Friday, December 9, 2011
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Gwinnett Daily Post
LAWRENCEVILLE -- Gwinnett County is off the watch list.
Four months after the downgrade of the U.S. government's credit placed 161 local governments on a watch list, county officials learned that Moody's Investors Services has reaffirmed its AAA credit rating.
Gwinnett's government has maintained the highest possible bond rating of AAA from all three credit rating agencies since 1997. The feat has allowed the county to pay low interest rates on projects such as water and sewer expansions and the civic center.
But after a congressional sparring over raising the debt ceiling, Moody's downgraded the federal government and reconsidered the ratings of governments. On Wednesday, Gwinnett officials were notified that its rating was revised back to a stable outlook.
"I am grateful to the finance staff members who were responsible for the preparation and communications with the rating service," said Commission Chairwoman Charlotte Nash. "Few events in my career have been more exciting than the attainment of AAA/Aaa from the three rating services. I am thrilled to have Moody's return us to stable outlook."