For the first time in thirty years, Norfolk County’s Bond Rating has been upgraded by Moody’s Investor Service and assigned an Aa2 rating from the previous rating of Aa3. This upgraded rating was attained due to an outlook that reflects the County’s large and mature tax base with a strong demographic profile. In addition, the maintenance of a solid financial position despite limited growth in county tax and volatile registry deeds revenue, and a very low debt burden has secured this upgrade.
This upgrade is especially good news as it comes at a time when balancing budgets has been very challenging in the face of an economic recession which we have just experienced over the past few years. It is was made clear, that Moody’s valued the County’s fiscal restraint with respect to budgeting, liquidity and a minimal reliance on fund balance appropriations.
For a Full Copy of Moody's Rating Report see: Moody's Rating Report - Norfolk County MA.pdf