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Falk Announces Dane County Receives Another AAA Bond Rating

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Gene Nelson, 266-4109
Sharyn Wisniewski, 267-8823


Issued By: County Executive
View only releases from County Executive
Dane County Executive Kathleen Falk announced today that Dane County received a "AAA" credit rating from Fitch IBCA & Phelps on the county's upcoming debt issues.

The major financial security analysis firm, based in New York, gave Dane County its top rating, assuring the county will receive the most favorable interest rate on its borrowing.

"The 'AAA' rating reflects Dane County's growing tax base, consistently strong economic performance, solid financial management, and moderate debt levels," Fitch said in a statement. "The (Dane County) administration is committed to enhancing social welfare and public safety programs while maintaining strong management practices that limit budgetary spending growth," the Fitch statement said.

"This is good news for Dane County taxpayers," said County Executive Falk. "The careful way we handle the county's finances is rewarded with lower interest rates, which saves tax dollars."

The bonds will be sold by competitive bid on March 8. The county is borrowing $3 million to buy land or easements under the New Conservation Fund, approved by a referendum in 1999, and $2.45 million to pay for highway improvements, park improvements, land conservation, parking lot resurfacing at Badger Prairie Nursing Home, and for computer system upgrades.

Only two Wisconsin counties, Dane and Waukesha, have earned Triple A ratings.
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