The nation’s two top credit ratings firms – Moody’s and Standard & Poor’s – have awarded the County with their highest short-term rating and reaffirmed its triple A long-term credit rating – the highest possible rating. These ratings will enable the County to refinance and borrow funds at lower interest rates to fund critical needs, saving substantial taxpayer resources over time.
The high credit rating allowed for the County to refinance the Ventura County Medical Center Hospital Replacement Wing Bond on June 3 at a lower rate. This will save approximately $2 million annually in debt service payments resulting in $34 million net present value savings.
