Standard & Poor’s last week raised its underlying long-term rating to AAA from AA-plus on Douglas County’s general obligation debt. In assigning the top-notch rating, analysts cited the county’s solid financial management and history of maintaining strong fiscal reserves.
The upgrade comes as the Douglas County Correctional Facilities Corp. prepares to sell $9 million in refunding revenue bonds.
Douglas County’s economy is anchored by Omaha and income and wealth indicators “that range between good to strong,” wrote analyst Linda Merus in a news release. The county enjoys a diverse and strong tax base and a moderate debt burden. Its unemployment rate averages 3.7%, well below the national average, though slightly higher than Nebraska’s average of 3.4%.
