Blount County budget chair announces Fitch upgrade to AAA credit rating

The Budget Committee chair announced at a Blount County Budget Committee meeting that Fitch Ratings upgraded Blount County to a AAA credit rating, one of four counties of Tennessee's 95 to receive that designation. The chair credited reduced debt, healthy fund balances and ‘‘a persistent pay-as-you-go philosophy’’ for the improvement.

The announcement came during the committee's regular meeting; the chair said the upgrade reflects long-term financial planning and the county's conservative budgeting. The chair said the county had been rated ‘‘double A minus’’ about 15 years ago and has steadily improved its standing since.

The chair thanked the Blount County Commission, county employees and the finance team by name, saying, ‘‘The taxpayers deserve that, and I'm glad that we're able to provide that for them.’’ The chair named Brian and Randy from the finance team while acknowledging the commission's role in maintaining balanced budgets and growing fund balances.

According to the chair, Fitch cited the county's reduced debt levels, lower liabilities, healthy fund balances and the community's economic strength in its upgrade. The chair framed the rating as a product of ‘‘conservative management of our taxpayer dollars’’ and ongoing teamwork between departments, elected officials and staff.

The announcement did not include a written Fitch report or a date for the upgrade in the meeting record. No formal vote or policy change accompanied the announcement. The meeting proceeded to routine agenda items, including approval of minutes and several budget and grant measures later approved by the committee.