Editor's Note: The following information was provided to Patch via a news release from Waukesha County Executive Dan Vrakas.
Waukesha County Executive Dan Vrakas announced Wednesday that both Moody’s Investors Service and Fitch Ratings awarded Waukesha County triple-A bond ratings, the highest ratings possible. The ratings evaluate the County’s debt obligations and maintaining a triple-A bond rating helps lower borrowing costs and the tax rate in Waukesha County.
In their bond rating report, Fitch Ratings highlighted Waukesha County’s policy of putting down 20 percent on all capital plans and paying off the projects within 10 years as a sign of strong fiscal management.
“The county benefits from a strong, proactive financial management team,” Fitch Ratings highlighted in their report, adding that Waukesha County, “budgets conservatively.”
Moody’s Investors Service said in their report that Waukesha County is in a strong financial position due to fiscally prudent budgeting practices. The report said, “we expect the county’s financial position to remain strong due to a history of conservative budgeting.”
“Waukesha County has a great team that manages county finances with efficiency and skill,” said County Executive Dan Vrakas. “This triple-A bond rating, ultimately, allows Waukesha County to save taxpayers money by allowing the County to pay lower interest rates on loans to fund highway and other capital projects each year.”
This year marks the 24th consecutive year that Moody’s has awarded, and the 15th consecutive year that Fitch has awarded Waukesha County this rating. Waukesha County is in the top 4 percent of counties nationwide to achieve the coveted triple-A status. In 1998 Waukesha County became the first government in Wisconsin to be awarded a AAA-bond rating by Fitch Ratings.