Richland County bond issuance receives high rating

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Moody’s Investors Service and S&P Global Ratings gave Richland County’s financial outlook their highest ratings last month.

The agencies assigned the ratings to the county’s $7.9 million general obligations bonds series 2018A for a project to acquire equipment for the Richland County Sheriff’s Department. Richland County Council approved the bond issue to purchase radio communication and aviation equipment.

Moody’s assigned its Aaa rating to that series as well as the county’s outstanding general obligations bonds. S&P assigned its AAA rating to the series 2018A bonds as well as the outstanding bonds.

In addition, the agencies affirmed their respective MIG1 and SP-1+ short-term ratings on the county’s GO bond anticipation notes series 2018.

The agencies previously assigned the county top ratings in January, according to a news release from Richland County’s Public Information Office.   

Proceeds from the bonds are used to fund various capital projects. The high ratings make it less expensive for the county to finance debt obligations, the office said.