Chatham County financial advisors presented Oct. 20 the results of the county’s 2025 limited obligation bond (LOB) refunding and reported that Moody’s Investors Service upgraded the county’s rating to AAA.

Jeremy Carter, financial advisor, described Moody’s decision as based on continued economic and tax‑base growth, high value per capita, conservative budgeting and ample fund balance and liquidity. Chatham joins a small group of North Carolina counties at Moody’s AAA level; Carter said only about 14 counties in the state have that rating and that it places Chatham among a relatively small U.S. peer group.

Carter reported the public finance transaction: the county refunded outstanding 2015 LOBs with approximately $25.3 million of refunding debt and achieved a net present value savings of roughly $1.531 million — equivalent to about 5.55% of refunded principal — and a new total interest cost around 2.89%. Carter described the process and Moody’s site visit as important to achieving the upgrade.

County finance staff thanked Moody’s, the county’s management team and regional economic development partners for participating in site visits and answering credit‑quality questions; commissioners applauded the rating upgrade and directed staff to finalize the transaction documents for the refunding and continue credit‑quality work.

Carter also noted a new Local Government Commission (LGC) process that can accelerate refunding approvals and allow local governments to move quickly when market opportunities occur. The county’s refunding was completed despite a volatile market on the sale day, he said.

The board accepted the report and celebrated the upgrade, and county staff said the rating and refunding will reduce long‑term borrowing costs and add flexibility for future capital planning.