News Flash

Executive - Press Release

Posted on: April 28, 2017

New Castle County awarded the highest rating by credit rating agencies

Wilmington, DE – New Castle County earned a triple-A credit rating this week from all three major rating agencies who affirmed a stable outlook on the county’s economic health and applauded the Meyer Administration’s financial management practices. Moody’s Investors Service, Fitch Ratings, and S&P Global Ratings recognized New Castle County’s strong economy as a center of banking, commerce and industry, with unemployment that is lower than the national average, median family income above the national average, and a consistent pattern of economic growth.

“New Castle County’s superior credit rating reflects the strength of our local economy and steps we are taking to be responsible stewards of taxpayer funds,” County Executive Matthew Meyer said. “These ratings – the highest that a government can achieve – allow us to borrow money at the most competitive interest rates, which will maximize our ability to invest in critical infrastructure at the lowest cost to improve County services.”

In its review, Moody’s expressed confidence in the County’s financial outlook due to strong management and credited the Meyer Administration with taking steps to address the County’s structural budget deficit.

Fitch noted that the County benefits from a broad mix of employment, including the biotechnology and pharmaceutical, finance, retail and manufacturing sectors and major chemical facilities, technology and research centers, and other industries that have contributed to sustained economic growth.

S&P highlighted New Castle County’s strong economy and recognized recent economic development announcement that will increase growth.

These ratings come as the County prepares to finance $107.8 million in general obligation bonds next week to finance capital projects previously authorized by County government.


Facebook Twitter Email

Other News in Executive - Press Release

County shares story on Hope Center family

Posted on: November 15, 2023

Disaster Declaration Update

Posted on: October 27, 2021

WOW! What is going on with the sun?

Posted on: August 16, 2017

Holiday event canceled at Carousel Park

Posted on: December 5, 2016
Mannequin Challenge moment (3).jpg

Donations sought for prom gown giveaway

Posted on: November 15, 2016

“Year of the Senior Citizen” Declared

Posted on: February 11, 2016

County resumes normal operating hours

Posted on: January 26, 2016

County’s New Website Now Live

Posted on: March 18, 2014

New Castle County Dog Licenses Due March 1

Posted on: February 24, 2014