© 2024 Western New York Public Broadcasting Association

140 Lower Terrace
Buffalo, NY 14202

Mailing Address:
Horizons Plaza P.O. Box 1263
Buffalo, NY 14240-1263

Buffalo Toronto Public Media | Phone 716-845-7000
WBFO Newsroom | Phone: 716-845-7040
Your NPR Station
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

Erie County's credit rating improves

Standard and Poor's

Standard and Poor's has significantly upgraded Erie County's credit rating by three steps, to AA-, its highest ever rating for the county.

The bond rating agency also credited Erie County with favorable fiscal management. S&P noted many positive factors in its analysis that lead to the ratings upgrade.

Among the factors cited were "strong budgetary flexibility that has remained constant over time," and "very strong liquidity, with strong access to external liquidity."

The county was also praised for its strong debt and liability profile, with limited exposure to fixed costs such as pension and other retirement expenses.

"This acknowledgement from an independent Wall Street financial entity validates the hard work of my administration and our budgeting and fiscal practices," said Erie County Executive Mark Poloncarz.

The improved rating should be helpful when the county enters the bond market this fall.

Mark Wozniak, WBFO's local All Things Considered host, has been at WBFO since mid-1978.