Moody’s Investors Service upgraded Newberry County, S.C.’s general obligation rating to Aa3 from A1, affecting $7.4 million of outstanding debt.
Moody’s upgraded to A2 from A3 the county’s $10 million of special source refunding revenue bonds for J.F. Hawking Nursing Home/Springfield Place, Series 2005. It also upgraded to A1 from A2 the special source refunding revenue bonds for Newberry County Memorial Hospital, Series 2005.
The upgrade to Aa3 reflects the underlying credit quality of Newberry County, characterized by healthy financial operations, ample reserves, and a small tax base.
