Mobile County Commission Gets Credit Rating Upgrade

S&P Global recently announced it has raised the Mobile County Commission’s general obligation debt and long-term ratings to AA+ from AA and has designated the county’s outlook as “stable.” “In layman’s terms, it’s like upgrading from a very good credit score to an even better one,” the commission said. “These upgrades signify a vote of confidence from one of the world’s leading credit rating agencies in Mobile County Commission’s financial stability and ability to manage debt responsibly, both now and for the foreseeable future.” S&P Global Ratings Credit Analyst Karolina Norris said, “The upgrade reflects continued growth in an economy that benefits from the only deep-sea port in the state, further supported by very strong finances, strong management and a low debt burden. The stable outlook reflects our view that the county’s economy will continue to benefit from the port presence and ongoing development and that the county will maintain very strong reserves to offset its environmental risks, supported by strong management.”