County Bond Rating Upgraded to AA +

For Immediate Release: Tuesday, January 13, 2009

Standard & Poor's Review Cites Fiscal Management & Voter-Approved Funding

Washington County is starting 2009 with an upgraded bond rating from Standard & Poor's. The municipal ratings organization recently moved Washington County up from AA to AA+, which is a high credit quality investment grade, just a single step from the highest rating of AAA.

The higher bond rating will allow the county to issue bonds for future projects at a lower cost to residents. Among the reasons cited for the upgrade was the county's strong fiscal position and active management of the general fund reserves.

"Washington County is mission-driven and committed to provide quality services within available resources," said Board Chairman Tom Brian, noting the strategic planning and financial discipline that guides the county. "We continually focus on long-term financial stability and make funding and service decisions with this in mind. The rating upgrade reflects positively on the political and administrative leadership of the county."

In the bond rating notice, Washington County was also recognized for the support Washington County voters have given to a local option levy funding countywide public safety services. The 2006 measure, which expires in 2010, funds roughly 16 percent of the County's public safety and justice system.

About the ratings:

A rating is a grade that indicates the credit quality of a bond based on the evaluation of an issuer's financial strength. Private rating services such as Standard and Poor's provide these evaluations. Ratings are divided into several categories ranging from AAA, reflecting the strongest credit quality, to D, reflecting the lowest. The ratings from AA to CCC may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the rating categories.

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