MOODY’S REAFFIRMS BERGEN COUNTY’S Aaa RATING, ASSIGNS MIG 1 TO COUNTY-GUARANTEED NOTES

HACKENSACK, N.J. – Bergen County Executive James J. Tedesco, III and the Board of County Commissioners are proud to announce that Moody’s Ratings has once again reaffirmed Bergen County’s prestigious Aaa credit rating, the highest rating awarded by the agency, citing the County’s growing economy, strengthening financial position, and solid financial management.

In its latest rating action issued September 14, Moody’s assigned an Aaa rating to $56.3 million in Bergen County Improvement Authority County Guaranteed Governmental Loan Revenue Bonds and a MIG 1 rating, Moody’s highest short-term municipal rating, to $111 million in County Guaranteed Governmental Pooled Loan Project Notes. Moody’s also maintained the County’s stable outlook.

“Once again, Moody’s has recognized the strength of Bergen County’s finances and the responsible approach we have taken to managing taxpayer dollars,” said County Executive James J. Tedesco, III. “Over the last several years, we have worked deliberately to strengthen our reserves and put the County on even firmer financial footing. Maintaining our Aaa rating allows us to continue making important investments in our communities while securing favorable borrowing costs and protecting Bergen County taxpayers.”

Moody’s cited Bergen County’s “large, dynamic and wealthy economy” as an enduring credit strength, pointing to an $85 billion economy and $263 billion in taxable property. The agency also noted that Bergen County ranks as the 42nd wealthiest county by median household income among more than 3,200 counties nationwide.

The report further highlighted the County’s continued improvement in its financial position. Bergen County’s available fund balance has increased to 18 percent, up from below 10 percent five years ago, with the County expecting reserves to strengthen further in 2026. Moody’s noted that when additional balances potentially available for operations are included, the County’s pro forma fund balance exceeds 30 percent.

“Maintaining the highest possible credit rating is a direct reflection of Bergen County’s strong fiscal management and careful long-term planning,” said Steven A. Tanelli, Chairman of the Bergen County Board of Commissioners. “By strengthening our finances while continuing to invest in the services and infrastructure our residents depend on, we are ensuring Bergen County remains financially strong for years to come.”

An Aaa rating signifies exceptional creditworthiness and helps Bergen County secure favorable interest rates when financing capital investments, reducing borrowing costs for taxpayers. The MIG 1 designation represents Moody’s highest rating for short-term municipal obligations and reflects what the agency described as Bergen County’s strong credit quality.

Moody’s stable outlook recognizes the continued growth of Bergen County’s economy and tax base, as well as the County’s ongoing improvement in its financial position. The agency also noted that the County has never been required to make a payment on its portfolio of guaranteed debt.