The Delaware County Finance Authority (DCFA) today announced it has received its first-ever bond rating from S&P Global Ratings, achieving a “BBB” rating with a stable outlook. The issuer credit rating marks a significant milestone for the DCFA and underscores its growing role as a trusted economic development partner for communities, businesses, and public-sector entities throughout Delaware County.
The S&P report issued on May 12 noted the DCFA’s “strong financial policies and procedures,” as well as its “healthy operating performance.” The Authority’s bond pool, established only five years ago, has already issued 11 loans and generated $49.3 million in bonds outstanding. With the recent issuance of the 11th bond series, the DCFA became eligible to earn a bond rating. This investment-grade rating represents an independent assessment of the DCFA’s fiscal-management and governance record, and improves its ability to market the bonds it issues.
“This rating is an important achievement for the Authority and for Delaware County as a whole,” said Angel Mumma, the DCFA’s chairperson. “Receiving a ‘BBB’ rating from S&P Global validates the strength of our financial practices, and it positions the DCFA to further expand its ability to support transformational projects that enhance quality of life, create jobs, and strengthen the county’s long-term economic competitiveness.”
The DCFA is a public finance entity dedicated to supporting economic development and community investment throughout Delaware County, Ohio. By partnering with public and private stakeholders, the Authority supports projects that contribute to economic opportunity, community improvement, and regional prosperity. As part of its mission, the Authority also serves as a conduit-financing organization that helps facilitate access to capital for a wide range of projects.
“The DCFA exists to help catalyze responsible growth and investment in Delaware County,” Mumma added. “This rating strengthens our ability to fulfill that mission and demonstrates to investors, partners, and the public that the Authority is positioned for long-term success.”
For more information about the Delaware County Finance Authority, visit their website.