Macon-Bibb sees S&P rating improvement, strong financial outlook
S&P Global Ratings raised its rating on Macon-Bibb County’s general obligation rating from A to AA-
MACON, Georgia (41NBC/WMGT) – Macon-Bibb County is reporting improvement when it comes to its current financial situation and future outlook.
S&P Global Ratings raised its rating on Macon-Bibb County’s general obligation rating from A to AA-, which is two full notches. The increase is based on the recent improvements to Macon-Bibb’s current financial situation and future outlook.
“This is a huge step in improving our consolidated government because it shows that what we’re doing with our finances is making us a stronger community, something people told me over and over again that past several years,” says Macon-Bibb County Mayor Lester Miller.
In its report, S&P stated: “The two-notch upgrade reflects Macon-Bibb County’s improvement in available reserves, which have risen to a very strong level from a weak level over the course of three fiscal years. The improved flexibility occurs as a result of improved budgetary practices and management’s approach in rebalancing the county’s financial performance following the 2014 county consolidation.”
In addition to the rating increase, Macon-Bibb County was given a “Stable Outlook.” Macon-Bibb County leaders say this speaks to the direction of the government’s finances.