Dickson County’s bond rating has been upgraded by S&P Global Ratings, which cited a growing tax base, low unemployment and sound money management for the higher mark
S&P raised the rating from “AA-” to “AA,” according to an announcement from the county. The service’s top rating is “AAA.”
“The new rating reflects the ratings service’s confidence in the stability of Dickson County’s finances and will result in the county being able to borrow money at lower interest rates,” the announcement said.
S&P assigned the new rating for county borrowing to build the new library and criminal justice center, the county said.
S&P, in a summary document on the new rating, said: “It is our expectation that the county’s tax base will continue to exhibit steady growth over the next two to three years.”
County Mayor Bob Rial said the improved rating “is indicative of the confidence their analysts have based on the financial responsibility this county has exhibited, their evaluation of our fiscal management and the county’s strong budgetary performance.”
Dickson County had an estimated 2.9 percent unemployment rate in September, slightly lower than the state average of 3.1 percent, according to the Tennessee Department of Labor & Workforce Development. The figures aren’t seasonally adjusted.
Dickson County’s unemployment rate was unchanged from September 2018.
“In addition to the employment opportunities residents have in the Nashville metro area, the county’s top employers are a diverse mix of manufacturing and distribution centers,” S&P said.