Oakland County retains its AAA bond rating

Standard & Poor's has reaffirmed Oakland County's AAA bond rating with a stable outlook in the face of challenges posed by Detroit's Chapter 9 bankruptcy filing, County Executive L. Brooks Patterson announced Wednesday.

"One of the bond ratings analysts from S&P told me that if they could award 'AAA Platinum' to Oakland County, they certainly would," Patterson said. "They affirmed that Oakland County is the best-managed county in America."

Patterson and members of his budget team held their annual bond rating meetings with S&P Aug. 14 at the Executive Office Building in Waterford. S&P cited Oakland County's fiscal strength and sound budgeting practices as reasons to invest in its bonds.

Published: Fri, Aug 23, 2013