Weber County Utah
County | Posted 08-22-2024
Fitch Ratings, a prestigious global provider of credit ratings, just reaffirmed Weber County’s ‘AAA’ financial rating for the 11th consecutive year. This rating reaffirms the County’s high quality financial rating and very low credit risk. It also results in lower interest rates for the County, saving taxpayers’ dollars.
“The Fitch ‘AAA’ rating is awarded to the top 2.5% of counties in the nation,” John Bond, Weber County Treasurer, said. “When the County goes out to the market to borrow money, we get the lowest interest rate possible, which saves money for the taxpayers.”
The ‘AAA’ rating is equivalent to an 850 (the highest attainable) FICO credit score. For the past 11 years, the County has annually maintained its “AAA” rating, which is “assigned only in cases of exceptionally strong capacity for payment of financial commitments” and is “highly unlikely to be adversely affected by foreseeable events,” according to Fitch.
“This is great news and a testament to sound fiscal management by the commissioners, finance folks, elected officials, department heads and dedicated county employees,” Ricky Hatch, Weber County Clerk/Auditor, said.
The County is proud to be a leader in exceptionally strong financial management and aims for continued success in the years to come.