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Moody's Upgrades Chatham to AAA; County Reports $25.3M Refunding and 5.55% NPV Savings
Summary
Financial advisors reported the results of a 2025 limited‑obligation bond refunding (about $25.3M) with a new interest cost of 2.89% and net present‑value savings equal to roughly 5.55%; Moody's upgrade to AAA was credited to tax‑base growth and conservative management.
County financial advisors briefed the board on the 2025 limited‑obligation bond refunding and the recent Moody's upgrade to a AAA rating. Advisors said the refinancing produced approximately $25.3 million of refunded debt, a new total interest cost near 2.89%, and net present‑value savings that equal about 5.55% of the refunded principal — figures advisors said met common thresholds for economically sound refundings.
Jeremy Carter, presenting for the county's financial advisor team, emphasized the rating upgrade and its drivers: "This upgrade of the county reflects the county's continued economic and tax base growth... long term conservative budget and planning by the county commission, resulting in ample fund balance and liquidity." The board congratulated staff and public‑finance partners; advisors noted the county's process with the Local Government Commission and updated sale‑timing rules helped enable timely market access for refundings.
