WAYNE COUNTY, Mich. – Moody’s Investors Service has upgraded Wayne County’s issuer rating and general obligation bonds to Aa3 from A1, reflecting the county’s strong financial position.
The rating agency highlighted Wayne County’s robust reserves, reduced liabilities, and economic growth as key factors behind the upgrade.
Recommended Videos
Over the past four years, Wayne County’s available fund balance ratio increased significantly from 42% to 72%, while liabilities have fallen to their lowest level in decades.
Moody’s credited the county’s disciplined budgeting, improved pension contributions, and a thriving regional economy for the stable outlook.
“Nearly a decade ago, Wayne County was on the brink of insolvency,” said Wayne County Executive Warren C. Evans. “Today, national credit agencies are recognizing what we already know; Wayne County is financially strong, stable, and positioned for long-term success.”
Evans added, “This upgrade is the product of responsible budgeting, tough decisions, and a team committed to serving our residents. It’s proof that when we stay disciplined, we can turn crisis into stability and stability into strength.”
Moody’s also cited improved pension and retiree healthcare contributions, along with the growing regional economy, as key reasons for the stable outlook.