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Standard and Poor’s Global Provides Update to Credit Analysis of Moore County’s Bond Rating

Press Release
FOR IMMEDIATE RELEASE
February 4, 2021
Standard and Poor’s Global Provides Update to Credit Analysis of Moore County’s Bond Rating
Carthage, NC.


Moore County is pleased to provide the following information regarding Standard and Poor’s credit analysis of 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 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 Standard and Poor’s Global recognition of Moore County’s many strengths and positive attributes.

S&P Global Ratings maintained its rating of ‘AA+’ on Moore County, NC’s series 2021 general obligation (GO) community college bonds.

At the same time, S&P Global Ratings affirmed its ‘AA+’ rating on the county’s GO debt outstanding and its ‘AA’ rating on the county’s limited obligation bonds.

The outlook for all ratings is stable.

The rating action reflects our view of Moore County’s ability to maintain strong financial performance and flexibility while managing a growing debt burden related to its significant capital needs. It also reflects management’s willingness to support the debt with additional resources as needed, such as a proposed one-fourth cent sales tax that went for voter approval in November 2018, as well as the property tax increase in fiscal 2020.

For full report go to the file "S & P Rating Full Report".

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