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Moody’s Investors Service Provides Update to Credit Analysis of Moore County’s Bond Rating

Press Release
For Immediate Release
February 4, 2021Moody’s Investors Service Provides Update to Credit Analysis of Moore County’s Bond Rating
Carthage, NC

Moore County is pleased to provide an update to the credit analysis regarding Moody’s Investors Service decision regarding Moore County’s bond rating. During the May 2018 primary, Moore County voters approved $103,000,000 General Obligation Bonds for Moore County Schools used to build three (3) new elementary schools and $20,000,000 in General Obligation Bonds for Sandhills Community College for a new Nursing Education Facility. The bond rating comes in advance of the planned issuance of $20,000,000 in GO bonds for the Sandhills Community College Nursing Education Facility project. Moore County Leadership feels the rating is well deserved and is very appreciative of Moody’s Investors Service recognition of Moore County’s many strengths and positive attributes.

Moody’s Investors Service has assigned a ‘Aa1’ rating to Moore County, NC’s $20 million General Obligation Community College bonds series 2021.

At the same time, Moody’s Investors Service maintains the ‘Aa1’ rating on the county’s general obligation unlimited tax parity debt outstanding.

The outlook for all ratings is stable.

The rating from Moody’s Investors Service is a confirmation that County leadership and management continue to operate the County with sound practices and a strong financial position. The rating will help to broaden the investor base for the County’s debt and should help lower the County’s cost of borrowing. It also reflects management’s willingness to support the debt with additional resources as needed, such as the one-fourth cent sales tax that the voters approved in November 2018, as well as the property tax increase in fiscal 2020.

For the full report go to the file “Moody’s Rating Full Report”.


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