The bond rating firm Fitch has given Westchester County an ‘AAA’ rating for its 2026 Series A, B and C General Obligation (GO) Bonds, and affirmed the County’s Issuer Default Rating (IDR) at ‘AAA’ with a Stable Outlook, according to the county executive’s office.
The ‘AAA’ rating is the highest possible rating awarded by Fitch and it is said to reflect the agency’s expectation that Westchester County will continue to maintain exceptional financial resilience through economic cycles.
The positive news about its bonds comes as the County Board of Legislators at its March 2 meeting had on the agenda issuing a variety of bonds totaling $106.7 million to finance a number of projects.
The included $11 million for sewer work, $2.5 million for solid waste equipment, $$7,465,000 for eight capital projects involving such things as purchasing computer equipment and upgrading security systems, and $12.5 million for structural work at the Playland Amusement Park.
Westchester County Executive Ken Jenkins said, “Receiving an ‘AAA’ rating once again is a powerful affirmation of Westchester County’s strong financial stewardship and disciplined management. This rating reflects our commitment to responsible budgeting, maintaining healthy reserves and investing strategically in infrastructure that supports our residents and our economy. We are proud that independent analysts continue to recognize Westchester as one of the most financially stable counties in the nation.”
In issuing the ‘AAA’ rating, Fitch said it reflects Westchester County’s financial reserves exceeding 20% of spending over the last three fiscal years, strong revenue-raising flexibility, solid ability to adjust expenditures when necessary, sound operating performance and a general fund reserve policy target of at least 18% of spending. Fitch expects the county to maintain enough money in its unrestricted general fund reserves to equal at least 10% of its spending, a level that the county has consistently exceeded.
Fitch also cited Westchester County’s sizable and diverse economy, strong educational attainment levels and favorable median household income levels as key strengths.
