Hamilton County has received a AAA credit rating from Standard & Poor’s. The county says it is currently the only one out of the 92 Indiana counties to receive the distinction, which is the highest rating awarded by S&P.
S&P analysts noted the county’s “strong population growth, high effective buying incomes, and low unemployment rates,” among its main attributes when assigning the rating.
“Even during this difficult economic downturn caused by the pandemic, the county remained fiscally strong, disciplined, and resilient,” said council member Fred Glynn. “These fundamentals show the county is positioned for more growth in the future.”
The rating agency uses four categories of criteria including economy/tax base, finances, management, and debt/pensions. The county says the rating affirms its ability to pay its debts and navigate uncertain economic times.
“This rating saves our residents money, by providing a lower cost of borrowing to finance capital projects. This also makes the county more attractive to businesses and signals a sound and stable economic climate,” said Mark Heirbrandt, president of the Hamilton County Commissioners. “It certainly speaks to the hard work and teamwork of our county commissioners, county council, and finance team over the past three months.”
According to the county, the agency also noted its Local Income Tax as “stronger than that of the US Government (AA+).”