As a result of Sacramento County's commitment to fiscal responsibility, major credit-rating company Standard and Poor's Rating Services (S&P) raised the County's credit rating two notches.
Following the Great Recession in 2008, Sacramento County diligently worked to strengthen the region's economy, financial flexibility and fiscal stability, providing more job opportunities and housing options while also implementing new budget processes and financial policies.
S&P raised Sacramento County's credit rating to the following:
- County Long Term Rating from “A" to “AA-“
- County Pension Obligation Bonds from “A" to “AA-“
- County Certificates of Participation from “A-" to “A+"
Additionally, the S&P's rating report highlighted the following factors as areas of strength for Sacramento County:
- Strong economy, with access to a broad and diverse metropolitan statistical area
- Strong management, with good financial policies and practices under S&P's Financial Management Assessment methodology
- Strong budgetary performance, with operating surpluses in the general fund and at the total governmental fund level in fiscal 2017
S&P summarized Sacramento County's position in their annual report, stating that their rating “reflect(s) our view of the County's restoration of positive available fund balances, resulting in an improvement in the county's financial flexibility, as well as our opinion of the county's improved economy, as reflected in improved wealth and income indicators."