Pima County has maintained its good credit rating.
Fitch Ratings, which functions like a credit bureau for governmental entities, rated the county AA for its issuance of general obligation bonds. Such bonds are sold as a means of borrowing for infrastructure projects, and the county pays them back, plus interest, out of its general fund.
County officials said that means the county can get a good interest rate as it prepares to sell bonds later this year to build a new structure for the county vehicle fleet, upgrade fueling stations and complete construction on the city and county courts building downtown.
Because of its rating, the county has been able to save up to $20 million a year on interest, said Martin Willett, chief deputy county administrator.
“That will get us a really good rate in the market, so we’re very pleased," Willett said.
The county’s stability in spending and its rate of savings contributed to the rating, he said.