County executive touts ‘AA’ bond rating

Ulster County Executive Michael Hein said Wednesday that S&P Global Ratings has again given Ulster County a “AA” bond rating.

In its report, the rating agency cited the county’s management as “strong, with good financial policies and practices” and credited the county for its budgetary flexibility, noting that the available fund balance is sufficient to allow for future capital spending and tax relief, Hein said in a release.

The agency described Ulster County’s financial condition as “stable,” indicating no anticipated change in the bond rating over the next two years, the release said.

Credit ratings range from a top rating of “AAA” to “D” in cases where debt is in default or debt issuers have not met their financial obligations.

Bond ratings have a direct impact on the cost of borrowing. The higher the rating, the lower the borrowing costs.