Countywide : County Maintains High Bond Rating

Despite uncertain funding from the state, Ventura County has maintained its high rating with New York bond agencies, officials said.

Standard & Poors gave the county an A+ rating--a high mark on a scale that ranges from AAA to CC. And Moody’s Investor Services gave the county an A1 rating on a scale from Aaa to C. The ratings remain unchanged from last year.

“They were down on California because of the financial problems here,” said county Treasurer-Tax Collector Hal Pittman, who was one of five county officials who went to New York last month to meet with the bond companies.

Although Ventura County officials expect to suffer sharp cuts in state funding this year, they were able to show the bond experts that they would make the cuts necessary to stay financially strong, officials said.

“Although we are going through some very difficult times it shows that (the companies) have faith in us,” said county Chief Administrative Officer Richard Wittenberg.