Fitch Ratings today rated Rowan County’s $72.7 million general obligation bonds “AA” and said the county’s outlook was “stable.”
Fitch said the “stable” outlook was based on:
• a stable financial profile, conservative budgeting and sound reserves;
• low debt levels;
• a limited economy that remains somewhat concentrated in manufacturing, resulting in high unemployment and modest tax base growth; and
• wealth levels that are below average relative to state and national levels.