DALLAS (S&P Global Ratings) March 6, 2025--S&P Global Ratings raised its long-term rating and underlying rating on Geary County's general obligation (GO) debt and on Geary County Public Building Commission (PBC) revenue bonds, issued for Geary County, to 'A+' from 'A' and removed the ratings from under criteria observation (UCO). The outlook is stable.
The ratings reflect the application of a "Methodology For Rating U.S. Governments" criteria, published Sept. 9, 2024.
"The rating further reflects the county's economy, which is predominantly based in governmental services and manufacturing, as well as its stable financial performance and very strong reserves, albeit on a cash basis of accounting, and manageable debt profile," said S&P Global Ratings credit analyst Karolina Morris.
The stable outlook reflects the expectation that the economy will remain relatively steady and that management will maintain strong budgetary flexibility and balanced operations, despite the cash-funding of capital projects.
They could lower the rating if the county's budgetary performance weakens, resulting in material draws on reserves.
All else equal, they could raise the rating if key economic indicators improve to levels that they consider more comparable with those of higher-rated peers.The story was reported by S & P Global.
Geary County Commissioner Trish Giordano noted that the rating is a direct result of the County strengthening their financial policies and financial management.