Standard & Poor's Rating Services upgraded St. Clair County's credit rating after the county's agreement to help Cottrellville Township improve its water supply system.
By issuing the local government a 'AA-' rating from 'A+,' S&P helped the county to achieve a lower interst rate on the bond it issued on behalf of the township and could in the future save the county millions of dollars.
The company -- which is among the top firms, along with Moody's and Fitch Ratings, that specializes in financial analysis -- did this "due to the county's steady economic growth and its general fund's strong liquidity, which supports good financial performance."
