JACKSONVILLE, N.C. (WNCT) On Monday, Moody’s Investors Services upgraded the County’s General Obligation (GO) rating to Aa1 and limited obligation bond rating to Aa2.
They also assigned an Aa2 to the county’s $22.1 million Limited Obligation Bonds, Series 2020.
David McCole, Onslow County Finance Officer said, “This potentially enables Onslow County to borrow at a lower interest rate, and in return, brings savings of taxpayers’ dollars.”
According to Moody’s, Onslow County, (Aa1) benefits from a large and growing tax base and, while resident income and wealth metrics are below state and national averages, this is largely driven by the significant military presence in the county.
“We are able to get this rating thanks to the fiscally responsible approach of the Board of Commissioners,” said McCole.
The release states, “Onslow County will continue to benefit from its conservative, forward-looking management team with long-standing practices of debt modeling and financial forecasting. Management continually reviews and strengthens the county’s already prudent financial policies further adding to operating stability.”