Rutherford County Receives Third AAA Bond Rating

Rutherford County has received its third AAA bond rating, this time from S&P Global Ratings. 

Rutherford County is now part of an elite group having obtained an AAA bond rating from all three major credit rating agencies.  

This rating comes from fiscal conservative leadership from the Mayor’s Office, Department Heads, and the County Commission. 

“Ever since being elected Mayor, I have made sure that the County has had a balanced budget, through a strong conservative approach of not overspending,” Carr said.  “This shows the hard work and dedication of not only the Mayor’s Office, but also the hard work of the Department Heads holding firm on their individual budgets. This is just another example of how we have been getting it right in Rutherford County. I want to commend the County Commission for working with me by passing balanced budgets for the last three years.” 

Rutherford County Government Finance Director Michael Smith, CPA, reflected how this was started years ago. 

“This process started several years ago when we received our first AAA rating from Moody’s,” Smith said. “We have continued our commitment to strong financial policies and now have the strongest rating possible from all three major credit rating agencies. This is a testament to our county’s commitment to work together and keep conservative fiscal management policies in place over time, even through tough economic circumstances. This will allow us to obtain lower borrowing rates, saving taxpayer money.“

S&P stated, “The ‘AAA’ rating reflects the county’s rapidly growing economy in the Nashville metro region, along with its extremely strong finances with robust reserves and taxing flexibility, prudent fiscal management, and manageable debt and liability profile, especially when considering that most of the debt is for the county’s school department, which benefits from having additional revenue flexibility.”

The AAA rating was received as S&P factored in the $15 million one-time transfer to fund a new forensic center.

S&P said, “We expect that strong economic growth and proactive financial management will continue to yield positive financial results, and that revenue growth will keep pace with increased service needs.”

Carr continues to stand firm in implementing practical conservative financial principles to lead the fourth-largest county in Tennessee.  Not only is Rutherford County an ideal place to work, attend school, and raise a family, but it also boasts a coveted financial distinction that few counties can claim.