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Guest Commentary

Commissioner Tomassetti Statement on Downgrade of Blair County Bond Rating

 


By TERRENCE

TOMASSETTI

Commissioner

Blair County

Late last month, Moody’s Investors Services downgraded Blair County’s bond rating from A1 to A2. This downgrade affects the county’s approximate $31 million in outstanding debt.

There are a number of all-too-familiar reasons for this action. Some include:

• a protracted period of structurally imbalanced operations evidenced by a continual reliance on reserves and depletion of fund balances,

• the inability to increase revenues prior to reassessment, and

• pension liabilities which are elevated because of many years of u...



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