County Executive Henry announces ‘AAA’ credit rating from country’s three major rating agencies

NEW CASTLE - New Castle County Executive Marcus Henry announced today that the County has once again earned 'AAA' ratings from the nation's three major rating agencies, reflecting a continued confidence in the County's economic health. Moody's Investors Service, Fitch Ratings and S&P Global Ratings recognized New Castle County's diverse local economy and its position as a regional economic hub.

The S&P's Global Ratings Report states their rating reflects their view "of New Castle County's history of solid financial performance, substantial reserves, and its robust local economic base that serves as an economic hub within the larger Philadelphia-Camden-Wilmington region."

"This is a strong vote of confidence in New Castle County's financial management and commitment to fiscal responsibility," said County Executive Marcus Henry. "This recognition reflects the hard work of our finance team and the sound decisions we've made to maintain the County's financial health."

According to Moody's, "The county's financial position is expected to remain sound supported by formal fund balance policies, conservative budget management, and long-term planning."

And, Fitch credits its triple-A rating with the county's "financial resilience given healthy reserve levels."

The ratings, which will help the County earn the lowest possible interest rate, have been received in anticipation of the sale of $80 million of the County's general obligation bonds scheduled for July 22, 2025. The bonds will finance over 70 different capital projects including park improvements at Southern Regional Park, Carousel Park, Rockwood Park, Bechtel Park, and Glasgow Regional Park, among others. Other significant investments include the new Newark Library, improvements to the County's wastewater infrastructure, and critical public safety equipment.

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