Moody’s reports Emmet County’s credit position as ‘very strong’

    For Immediate Release – Oct. 21, 2020

    Moody’s Investors Service, the bond credit rating business of Moody’s Corporation, has published its annual comment on the state of Emmet County government’s finances.
    “The credit position for Emmet County is very strong,” reports Moody’s analyst in the overview. The county was given an Aa2 rating, the median for U.S. counties.
    The report highlights some key factors for the positive conclusion and provides several tables and graphs of the data used in determining the county’s Aa2 rating. The information presented on the county’s finances spans 2015 through 2019 and includes the U.S. median for comparison.
    According to the report, the county’s financial position “is robust” with its fund balance and cash balance (as a percent of its operating revenues) far exceeding the median for U.S. counties.
    Emmet County’s small debt and pension burdens were additional credit strengths cited by Moody’s analyst.
    The report also noted that Emmet County’s economy and tax base are “very healthy overall” with the total full value of its property tax base just over $7.9 billion, increasing nearly $1.27 billion since 2015. Emmet County’s 2019 per capita property value of $236,543 is far above the U.S. median of $85,725. The county’s median family income is above the national median as well.
    Click here to view the full Moody’s Investor Services report on Emmet County

Print Friendly, PDF & Email
This entry was posted in Finance, on October 22nd, 2020

Emmet County, Michigan
200 Division Street, Petoskey MI 49770
(231) 348-1702 | Contact Us