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Bond Rating (Moody's)

2009

2010

2011

2012

2013

A1

A1

A1

A1

A2

Legend: 

Moody's - Definitions of Bond Ratings - Long-Term Obligation Ratings

Moody’s long-term ratings are opinions of the relative credit risk of financial obligations with an original maturity of one year or more. They address the possibility that a financial obligation will not be honored as promised. Such ratings use Moody’s Global Scale and reflect both the likelihood of default and any financial loss suffered in the event of default.

Aaa Obligations rated Aaa are judged to be of the highest quality, with minimal credit risk.
Aa Obligations rated Aa are judged to be of high quality and are subject to very low credit risk.
A Obligations rated A are considered upper-medium grade and are subject to low credit risk.
Baa Obligations rated Baa are subject to moderate credit risk. They are considered medium grade and as such may possess certain speculative characteristics.
Ba Obligations rated Ba are judged to have speculative elements and are subject to substantial credit risk
B Obligations rated B are considered speculative and are subject to high credit risk.
Caa Obligations rated Caa are judged to be of poor standing and are subject to very high credit risk.
Ca Obligations rated Ca are highly speculative and are likely in, or very near, default, with some prospect of recovery of principal and interest.
C Obligations rated C are the lowest rated class and are typically in default, with little prospect for recovery of principal or interest.

Since October 1996 Moody's has applied numerical modifiers 1, 2, and 3 in each generic rating classification from Aa to B. (see Moody's Expanded Public Finance Rating Symbols chart below). The modifier 1 indicates that the issue ranks in the higher end of its generic rating category, the modifier 2 indicates a mid-range ranking, and the modifier 3 indicates that the issue ranks in the lower end of its generic category.

Bond Rating (Standard & Poor's)

2009

2010

2011

2012

2013

A

A

A

A

A+

Legend: 

The general meaning of Standard & Poor's credit rating opinions:
'AAA' - Extremely strong capacity to meet financial commitments. Highest rating.
'AA' - Very strong capacity to meet financial commitments.
'A' - Strong capacity to meet financial commitments but somewhat susceptible to adverse economic conditions and changes in circumstances.
'BBB' - Adequate capacity to meet financial commitments but more subject to adverse economic conditions.

Source: Moody's Investor Service, Annual Reports
Updated annually in January

 

Why it Matters: Genesee County's bond or credit rating is a measure of its financial reputation. A good credit rating enables a county to borrow money for construction projects and other needs at the most competitive rates available. This saves millions of taxpayer dollars in interest payments