CARMEL, IN, USA, March 24, 2021 /EINPresswire.com/ — Indiana’s Hamilton County is now the only county in the state to possess an AAA local income tax rating through S&P Global Ratings, a leading credit rating agency, according to Hamilton County Councilman Fred Glynn.
According to Glynn, who represents District 1, S&P recently confirmed the county’s AAA rating—the highest possible rating available through S&P. This means the county can receive the best interest rates on behalf of its constituents. The county earned this gold-standard rating due to strong fiscal management by Glynn and other local government representatives.
According to Glynn, S&P awards the AAA rating only when an area appears to be extremely capable of meeting its financial commitments, which may range from debt payments to expenses and dividends. AAA-rated borrowers can typically secure loans at low-interest rates, as the risk that these borrowers will not repay the borrowed money is a lot less.
S&P takes into consideration several factors when determining whether a county should receive the AAA rating. These include the area’s economy, demographic factors, the county’s financial condition, its debt structure, and the management practices used by the administration and governing body.
Over the past several years, the population in Hamilton County has increased, and so has its employment opportunities. Due to the county’s recent growth, Fred Glynn expects the county to continue to enjoy a surge in its revenue in the coming years. This was a huge determining factor in the decision to grant Hamilton County the AAA rating, according to Glynn.
Fred Glynn, who has developed a track record of success in both finance and business, said he and his fellow council members are committed to continuing to protect Hamilton County citizens’ financial wellbeing in the future. He said he is also driven to further enhance the county’s operations for years to come.
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