Wednesday, February 9, 2022

Moody's Upgrades Upson Bond Rating

Chairman Norman Allen and the Upson County Board of Commissioners are pleased to announce that Moody’s Investors Service has upgraded Upson County’s general obligation and unlimited tax (GOULT) ratings to Aa3 from A1. Moody’s also assigned a Aa3 rating to Upson County’s $20.9 million Revenue Bonds (Upson County Projects), Series 2022 issued by the Thomaston-Upson County Office Building Authority. 

Moody’s Investors Service takes several factors into account when considering a bond ratings upgrade. In the case of Upson County, a continuous trend of positive financial strategies causing healthy fund balances and liquid assets levels, backed by conservative budgeting procedures and adherence to formalized fiscal policies contributed to the upgrade. Although Upson County is considered a smaller county, it has shown consistent and steady growth of the tax base. The county profits from its minimal debt and manageable fixed costs. 

“Our Director of Finance, Allen Salter, and the Finance staff have worked diligently to implement policies that result in conservative and effective financial management. I believe their hard work is reflected by Moody’s decision to upgrade Upson County’s bond ratings,” said Upson County Manager, Jason Tinsley

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