Gwinnett County has once again earned the highest possible bond ratings, securing triple AAA/Aaaratings from Moody’s Investors Services, Fitch Ratings and S&P Global Ratings.
The excellent credit ratings allow Gwinnett County to issue bonds at favorable rates, reducing long-term borrowing costs and generating savings for taxpayers. Analysts from the three agencies commended the county government for its robust economic foundation, low debt levels and proactive financial planning.
Leveraging these top ratings, the Board of Commissioners on Tuesday approved the issuance of $17.2 million in revenue bonds through the Urban Redevelopment Agency for Phase II of the Gwinnett Place Mall redevelopment project. The 20-year bonds, priced at an interest rate of 4.7%, will finance the acquisition of the Macy’s and Macy’s Furniture Store sites at the mall. The purchase of these key properties will further the County’s efforts to redevelop the mall and transform it into a vibrant economic hub.
“Receiving the highest rating once again is a testament to our commitment to sound financial management and dedication to serving residents effectively,” said Chairwoman Nicole Love Hendrickson. “Our team has worked tirelessly to keep Gwinnett County financially resilient, even as we navigate new growth and development opportunities. This rating affirms our promise to manage taxpayer dollars wisely, allowing us to continue delivering top-notch services and infrastructure improvements that enhance the quality of life in our community.”
The recent evaluations by the rating agencies underscore Gwinnett’s budget flexibility, low debt burden and conservative fiscal policies, which position the county to handle future challenges effectively. Notably, Moody’s cited the county’s strong economic standing within the growing Atlanta metro area and its prudent use of property and sales tax revenues to fund capital projects.
Gwinnett is one of only 53 counties nationwide to hold this elite AAA/Aaa rating from all three major credit rating agencies, a distinction achieved by less than 2% of counties across the U.S.