Bucks County’s Fiscal Outlook Improves in New S&P Report
Bucks County’s financial outlook has stabilized since the current administration took office, says S&P Global Ratings.
The credit rating agency upgraded the county’s outlook from negative to stable in its April 13 report on the county’s finances, citing in its analysis “strong management with good financial practices” in place since January 2020, among other factors.
The report also affirmed the county’s AAA credit rating.
“From our first days in office, this administration aimed to tackle the financial challenges facing Bucks County without sacrificing the services we provide to our residents,” said Commissioner Chair Bob Harvie. “To me, this rating is proof that the hard work of our county staff and first-rate management team is paying dividends and safeguarding our county’s future.”
S&P said, in addition to improved fiscal management practices and policies, the county’s “very strong economy” and “very strong reserves” bolstered by federal pandemic relief and recovery funds also factored into the rating.
The good news from S&P comes less than a year after Moody’s Investors Service made similar changes to its read of the county’s credit and removed its negative view in favor of a stable outlook with a AAA rating.