Orange County credit rating raised to S&P AAA

Orange County’s S&P Global Ratings has been upgraded from its AA+ issuer credit rating (ICR) to AAA, representing the highest credit quality and lowest risk of default in the industry.

“The responsible allocation of resources, along with good checks and balances puts the county in a better fiscal standing now and well into the future. We must continue to keep our belts tightened and work hard to keep this rating for years to come,” said OC Board of Supervisors Chairman Donald P. Wagner.

Each year since 2005, a Strategic Financial Plan (SFP) is developed and published to help safeguard the county’s ability to respond to economic changes and unanticipated events and to ensure its resources and programs are aligned with countywide strategic priorities and values.

“The county has come a long way to improve its financial standing, while also creating innovative programs and improving existing services for our residents. The AAA rating from S&P is a testament to the hard work of our employees and the sound judgement in financial decisions made by Orange County,” said Vice Chairman Doug Chaffee.

The CEO Budget & Finance Office conducts public workshops held throughout the budget development cycle to encourage feedback as they work on the Strategic Financial Plan and the Recommended Budget. A public feedback form on its website, cfo.ocgov.com, welcomes input at any time from the community and regional stakeholders.

“Over the years, the county has put strong reforms in place and demonstrated our ability to manage taxpayers’ money in a responsible fashion. The county is in a much better position fiscally and in turn, better prepared for contingencies as they arise,” said First District Supervisor Andrew Do