April 1, 2024


Derek Sands

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HACKENSACK, N.J. – Bergen County Executive Jim Tedesco and the Board of County Commissioners are proud to announce that on March 19th, 2024 Moody’s Investors Service once again recertified the County of Bergen’s top-ranked Aaa bond rating citing the County’s strong financial stability, enduring economic strength, and growing tax base.

“Moody's decision to reaffirm Bergen County's Aaa bond rating is a direct reflection of the County’s strong financial position, as well as the stability of our economy,” said County Executive Jim Tedesco. “This rating underscores our unwavering dedication to prudent fiscal management, paving the way for continued growth and prosperity across Bergen County. It is also a testament of the exceptional financial team we have at the County of Bergen.”

"I am thrilled to see Moody’s reassert Bergen County's Aaa bond rating. This rating highlights our steadfast devotion to financial responsibility through our strong budgetary discipline," said Commissioner Chairwoman Germaine Ortiz. "One of the benefits that comes from this robust bond rating helps to guarantee our ability to continue advancing crucial infrastructure projects at highly advantageous borrowing rates, ultimately serving the best interests of our residents and communities."

Receiving an Aaa bond rating means the County has exceptional credit worthiness and can easily meet its financial commitments. The County can get the lowest interest rates when borrowing because Aaa rated government entities are viewed in the financial world of having the smallest risk of defaulting on its debt. That equates to lower borrowing costs which allows for lower costs to finance capital projects.

Attached to this email is a press release from Moody’s Investment Services on the County’s recent recertification.

Bergen Published Press Release Page 1

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