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Olmsted County receives credit ratings from Moody’s and S&P

  • News
  • Sep 8, 2023

Olmsted County continues its Aaa credit rating streak – the highest possible rating – from Moody’s Investors Service. Olmsted County also received a AAA long-term rating from S&P Global Ratings. 

In its latest ratings, Moody’s and S&P also both indicated a stable outlook for Olmsted County. 

These credit ratings equate to significant taxpayer savings by lowering the cost of borrowing for the county. 

“Our team’s hard work, dedication, and strategic approach has truly paid off; we received exceptionally positive feedback from both Moody’s and S&P,” stated Olmsted County Chief Financial Officer Wilfredo Román Cátala. “The positive accolades reaffirm our position as a strong and well-managed organization in the eyes of the financial community. It also underscores the impact of our collective efforts in maintaining transparency, robust financial practices, and forward-thinking management strategies.”

Moody’s noted Olmsted County’s credit strengths as having a solid financial position, modest leverage and fixed costs, and a strong regional economy. S&P noted the following factors in Olmsted County’s AAA rating: Very strong economy, focus on affordable housing, and exceptional management.

“At Olmsted County, we are committed to using public resources wisely and our strong credit rating is a testament to that,” said Olmsted County Board of Commissioners Chair Gregg Wright. “We are proud of the sound fiscal decisions made by the board and our county’s Finance team and believe they position our county well for the future.”

2024 Olmsted County budget timeline

Residents can learn more about what the county is planning for 2024 and how it plans to use taxpayer funds. Below is the timeline of events as it relates to establishing the 2024 Olmsted County budget.

  • September 19, 2023 - 6 p.m.: Certify the proposed 2024 levy for the Olmsted County Housing & Redevelopment Authority.
  • September 19, 2023 - 6 p.m.: Certify the proposed 2024 levy for Olmsted County.
  • December 7, 2023 - 6 p.m.: Truth in Taxation public meeting.
  • December 19, 2023 - 6 p.m.: Olmsted County commissioners adopt the final 2024 budget and levy. 

Details about these public meetings are available on our Olmsted County website. Residents may choose to join these meetings in-person in the board room at the Olmsted County Government Center. Residents may also join the meetings virtually via the Microsoft Teams link provided in the meeting agendas.