Westchester County has once again earned the highest possible credit rating of AAA from Fitch Ratings, reaffirming the County’s financial health and fiscal management. The rating reflects Westchester’s continued commitment to prudent budgeting, strategic planning and maintaining a diverse and resilient economy.
County Executive Ken Jenkins said: “Maintaining a AAA rating from Fitch is a significant accomplishment and a reflection of our commitment to fiscal responsibility. This rating not only demonstrates our financial stewardship, but also ensures we can continue investing in programs and services. We are here to say you can do both – you can invest in the County’s financial health and serve the needs of residents.”
Fitch’s assessment of the County’s financial resilience earned the AAA rating driven by its “High” revenue control assessment and “Midrange” expenditure control assessment, culminating in a “High midrange” budgetary flexibility assessment. Long-term liabilities are rated as “Strongest,’ supported by stable direct debt levels and anticipated resource base growth.
Recently, Westchester County earned a AAA bond rating from S&P Global Ratings. This significant upgrade, according to S&P, reflects “the county's increased reserve position, supported by conservative budgeting and strong sales tax revenues in recent years.” Westchester County is the only county in New York State to receive a AAA bond rating from S&P Global Ratings.