Cabarrus County Upgrade

Cabarrus County saw its rating raised to AA-plus from AA by Standard & Poor’s.

The agency also raised its long-term rating for certificates of participation issued by the county and Cabarrus County Development Corp. to AA from AA-minus.

The outlook is stable.

The upgrade reflects strong economic growth in the Piedmont Region and the county’s translation of that growth into a strong and stable financial position, according to analysts. The county is located about 20 miles north of Charlotte.

“We expect that the county’s strong tax base growth will sustain the county’s strong financial position and offset future growth-related capital costs,” said Standard & Poor’s analyst Armen Hratchian.

Hratchian added that while Cabarrus’ economy is in a transitional stage, its growth — driven by spillover from the deep and diverse Charlotte economy — is expected to be sustained in future years.

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