Wayne County Receives Credit Rating Boost From Moody’s

September 23, 2025

Wayne County, Michigan has received a significant credit rating upgrade from Moody's Ratings, moving from A1 to Aa3 for both its issuer rating and general obligation bonds. This improvement reflects the county's strong financial recovery over the past decade, transforming from near-bankruptcy to substantial financial stability. Key factors contributing to the upgrade include increased reserve funds (growing from 42% to 72% since 2021), reduced long-term liabilities, disciplined budgeting practices, and regional economic growth.

Who is affected

Wayne County residents (1.8 million people across 34 cities and 9 townships)
Wayne County government and its financial operations
Investors in Wayne County bonds
Taxpayers in Wayne County
County employees and retirees (through pension and healthcare contributions)

What action is being taken

Moody's Ratings is upgrading Wayne County's credit rating to Aa3 from A1
Wayne County is maintaining disciplined budgeting practices
The county is improving pension and retiree healthcare contributions
Wayne County is building and maintaining strong financial reserves

Why it matters

The upgrade places Wayne County's credit among the strongest in Michigan
The improved rating reflects the county's transformation from near-bankruptcy to financial strength
Strong credit ratings enable more favorable borrowing terms for future projects
The upgrade demonstrates successful fiscal management by county leadership
The financial stability positions Wayne County for long-term economic success
The county's available fund balance ratio has increased from 42% to 72% since 2021

What's next

No explicit next steps stated in the article

Read full article from source: Michigan Chronicle