Posted on Wed, Nov. 11, 2009
Two series of bonds to be sold by Chester County on Dec. 1 have been rated AAA, the highest level, by Fitch Ratings, one of the nation's major ratings services.
The county will sell $41.6 million in bonds to pay for capital improvements and $61.7 million to refinance older debt.
Fitch said the AAA rating was based on the county's "solid financial operations and reserve levels, fiscally prudent management, planning strategies and policies, as well as its high wealth and income levels."
The New York company cautioned that it considered the county's overall debt level, including that of local school districts, relatively high. -Paul Schweizer
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