Moody's: Will County Maintaining an "Excellent" Credit Position

WILL COUNTY – Will County Executive Jennifer Bertino-Tarrant today announced that Moody’s Ratings (Moody’s) has released their most recent credit analysis for the County. According to Moody’s, Will County has an excellent credit position due to financial management practices and a growing local economy.

Will County continues to maintain a “Aa1 Stable” credit rating, which is the highest tier of a AA credit rating. Moody’s cites “ample reserves that are likely to be maintained given growing sales taxes and stable property taxes” and an “expectation that the county will maintain its strong financial position.”

“This positive report reflects Will County’s fiscally responsible practices, proactive budgetary planning, and the strength of our local economy,” said County Executive Bertino-Tarrant. “We will continue to keep a close eye on spending, while ensuring that we’re funding critical services for a growing county. I appreciate the efforts of our Finance Department throughout the year to keep us on a strong fiscal footing.”

According to Moody’s, Will County’s financial position “is likely to remain stable given the county’s conservative financial management and growing revenue.” The County’s high credit score is strengthened by its economic base, strong reserves and liquidity, and above-median resident income. The county also achieved the highest ranking for fiscal governance, due to “strong budgetary management with multiyear planning and strong transparency and disclosure inclusive of quarterly financial reports.”

The updated credit analysis comes as Will County leadership is discussing the Fiscal Year 2025 Budget, which will be voted on by the county board at its November meeting before the fiscal year begins December 2024. County Executive Bertino-Tarrant has presented a balanced budget that ensures a positive long-term financial outlook while preparing county services for continued residential growth.

“With our proactive long-term planning, ample reserves, and other best practices, we’re ensuring that the county is in a strong fiscal position for the future,” said Budget Director ReShawn Howard. “The proposed FY25 budget reflects these practices, which will ensure a continued positive credit position.”

The proposed budget, along with other County financial information, is publicly available at www.WillCounty.gov.