In May 2010, Moody’s Financial Service upgraded Hanover to a AAA bond rating, the highest possible
Hanover County was previously upgraded to AAA by Standard & Poor’s in January 2009 and by Fitch Ratings in September 2006. These are the three major municipal bond ratings agencies in the U.S.
Hanover is the smallest County, population-wise, to have a AAA bond rating from all three ratings agencies. The average population size for ‘Triple-AAA’ county governments in the U.S. is 778,000; the next smallest is 170,000
Only 1.2% of county governments in the U.S. have three AAA bond ratings. There are now 36 Triple-AAA’s out of 3,034 counties in the U.S.
Municipal bond ratings are an assessment by the ratings agencies of the fiscal and economic health of a locality
Having a higher bond rating enables the County to pay lower interest rates when bonds for needed capital improvements projects are sold on the bond market
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