County’s Credit Ratings Upgraded

The following is a press release from an organization unaffiliated with Voice of OC. The views expressed here are not those of Voice of OC. FOR IMMEDIATE RELEASE
December 31, 2015

Contact: Ruth Wardwell

 County’s Credit Ratings Upgraded 
(Santa Ana, CA) – Strong management and good financial policies and practices, as well as a strong and diverse economy have resulted in ratings upgrades for the County of Orange. “The ratings upgrades confirm that the County of Orange is in the strongest financial position it has been in for many years,” said County Executive Officer Frank Kim, who served as the County’s chief financial officer for 4 years. “In part, it means we are able to move forward with long-desired projects that benefit OC citizens, like a new animal shelter, an upgrade to the County’s public safety communications system and the year-round homeless shelter.”

The upgrades follow a ratings request from the County as part of a process to prepay a majority of its FY 2016-17 employer contribution to the Orange County Employees Retirement System (OCERS), in exchange for a 5.8 percent discount.