Moody's Investors Service has assigned an Aaa rating to Clackamas County $53.8 million Full Faith and Credit and Refunding Obligations for 2020.
Clackamas County achieved the same designation in 2018 — this is the first rating since that time.
An Aaa-rated bond has an exceptional degree of creditworthiness because the issuer can readily meet its financial commitments. Aaa is Moody's top credit rating and reflects well on the county's responsible and prudent financial leadership.
Moody’s also maintained the Aaa ratings on the county's general obligation unlimited tax (GOULT) bonds and parity Full Faith and Credit (FF&C) obligations, and Aa2 ratings on the county's Multifamily Housing Revenue Bonds (Easton Ridge Apartments Project).
In describing Clackamas County through a credit analysis, Moody’s relayed that the county “is supported by stable reserves, limited exposure to economically sensitive revenue for general operations and a large economy in the Portland metro area.”