Parish News

Moody's raises Bossier Parish credit rating

09/29/2017

 

Bossier Parish has received some very good financial news via an upgrade in its credit rating issued by Moody’s Investors Service, one of the industry’s Big Three credit rating agencies.

According to Moody’s, the parish now carries an Aa2 rating, up one point from its previous Aa3. With the upgrade, the parish can realize a better rate if seeking new bonds and a lower interest rate on borrowing money.

“This shows the financial strength of the parish and the strength and stability of the parish’s tax base,” said Bossier Parish Police Jury Treasurer Joe Buffington. “It means we will be in better position to negotiate lower rates on bonds and that investors will have faith in our ability to repay.”

Buffington said Bossier Parish does not have a lot of outstanding debt and the new rating proves its financial viability.

“Investors like to see these things,” he said.

Moody’s Aa2 rating means Bossier Parish’s credit is rated high quality and very low credit risk. Purpose of the ratings, according to the company, is to provide investors with “a simple system of gradation by which future relative creditworthiness of securities may be gauged.”

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