Fitch Ratings: Wake County’s $36M in bonds ‘AAA’
Written on July 15, 2010
Fitch Ratings has assigned an ‘AAA’ rating to $36 million worth of new Wake County general obligation bonds that will help fund the construction of a Wake Technical Community College health sciences building. Receiving such a strong rating is good news for the county because it leads to lower interest costs on the bonds.
The series 2010E and 2010E are expected to sell competitively on July 22nd. The bonds will be the last issued as part of a building program approved by voters in 2007.
The health sciences building, which will be located near Wake Med in Raleigh, will house associate degree nursing, emergency medical sciences and radiography programs. The facility is expected to open in January 2012. A construction contract for it will be awarded in late 2010 payday loans.
“I think the AAA reflects the county’s financial strength and will result in the lowest interest rates available in the marketplace at the time of the sale,” says Wake County Manager David Cooke. “And that saves taxpayers’ money.”
Fitch on Monday also affirmed the following Wake County ratings:
* $1.8 billion in outstanding GO bonds at ‘AAA’;
* $303.5 million in outstanding limited obligation bonds at ‘AA+’.
Filed in: money.