Morris County Chamber of Commerce
  • About
    • Chamber Team
    • Our Mission
    • The President's Desk
    • Morris Business Cabinet
    • Board of Directors
    • What Members Are Saying >
      • Share a Testimonial
    • Frequently Asked Questions
    • Forums & Committees >
      • Committee Chair and Vice Chair Application
      • Ambassadors Council >
        • Ambassadors-Only Resources
      • Business Development Forum
      • Business Strategy & Tactics Forum
      • Environmental & Sustainability Forum
      • Government Affairs
      • Health & Wellness Forum
      • Hispanic Affairs Council
      • Human Resources Committee
      • Not For Profit Roundtable >
        • 2021 NFP Excellence Award Honorees
        • Nonprofit Donations
        • Not For Profit Conference Scholarship App
      • Real Estate Forum
      • Tech Talk Forum
      • Women in Business Program
      • Young Professionals Forum
    • Staff Forms - Internal Use Only
  • Why Join?
    • Join Our Chamber
    • Retail Restaurant Membership
    • Member Benefits
    • The Value of Membership >
      • Grow Your Business
      • Build Your Brand
      • Professional Development & Education
      • Government Advocacy
      • Community Outreach & Volunteering
    • Grand Opening Support
    • Member Marketing Opportunities
    • Enhance Your Directory Listing
    • Member to Member Deals
    • Member Referral Bonus
    • Connect to Morris Job Bank
  • Events
    • Chamber Event Calendar
    • Member Events Calendar
    • 100th Annual Meeting Program
    • Signature Events & Programs
    • Submit an Idea for an Event
  • Find A Member
    • Searchable Business Directory
    • Nonprofit Organizations >
      • Not for Profit Spotlight
    • Professional Services >
      • Accounting, Auditing and Related Services
      • Advertising, Marketing and Related Services
      • Aerospace & Defense
      • Attorneys and Legal Services
      • Architectural, Engineering and Surveying Services
      • Banking and Financial Services
      • Business Consulting and Professional Services
    • Retail, Restaurants, & Service Providers >
      • Arts & Entertainment
      • Auto / Trucks
      • Catering & Food Products
      • Child Care & Day Care
      • Cleaning Services
      • Contractors
      • Decorating & Organizing Services
      • Environmental Services & Recycling
      • Event Planning
      • Farm & Agriculture
      • Fitness & Wellness
      • Health Care
      • Home & Garden
      • Hotels & Conference Centers
      • Moving & Storage
      • Personal Development & Coaching
      • Pet Care
      • Photography & Video Services
      • Restaurants & Bars
      • Retail Stores
      • Senior Care & Related Services
      • Shipping & Delivery
      • Travel & Leisure
    • Higher Education Partners
  • News & Info
    • Member Exchange Online Community
    • Chamber Magazines
    • Coronavirus News
    • Business Resources
    • News Around the Chamber >
      • Submit a Press Release
      • Submit a Neighbors Helping Neighbors Story
    • MCCC Blog >
      • Contribute to Our Blog
    • Chamber Newsletters
    • Social Media
  • Programs
    • Economic Development Corp.
    • Executive Council Program
    • Women in Business Executive Round Table
    • Morris Chamber Toastmasters
    • Mentor Morris
    • Entrepreneur Roundtable
    • Morris Mastermind
    • Leadership Morris >
      • Leadership Morris FAQs
      • Leadership Morris Application
      • Leadership Morris Program
      • Leadership Morris Alumni Council
    • Thrive Morris
    • Work-Based Learning Internship Program
  • MCTV
    • MCCC On-Demand
    • MCTV Let's Talk
    • Actionable Advice Video Library
    • Member Spotlights
  • Member Login

Around the Chamber

​News & Information from our Members for our Members
​Click Here to submit your Press Release. 
Click Here to submit a Neighbors Helping Neighbors story.

MORRIS COUNTY AWARDED TRIPLE-A BOND RATING FOR45th CONSECUTIVE YEAR

6/11/2020

 
Morris County has been awarded the top-ranked Triple-A bond rating from the nation’s two largest rating agencies, Moody’s Investors Services, Inc., and Standard & Poor’s, for the 45th consecutive year, with the ratings agencies saying the county’s stable management and fiscal policies should allow it to endure the current health crisis. In particular, the ratings agencies lauded the Board of Freeholders’ response to the COVID-19 crisis, particularly creation of a COVID-19 Strategic Planning Advisory Committee, which is reviewing short term and long-term ramifications of the health pandemic and planning a safe and prudent reopening of Morris County.

The Triple-A rating benefits county residents by allowing the county to take advantage of the best possible interest and financing rates, saving taxpayers hundreds of thousands of dollars annually. In effect, it means the county has exceptional credit worthiness because the county can easily meet its financial commitments. “We view positively that the county started a (COVID-19) task force looking at longer-term economic and financial impact of the pandemic on the county’s finances,’’ S&P stated in its report. “A stable outlook reflects our opinion of Morris County’s very strong and diverse economy, which we expect will show resiliency during this economic downturn.’’

Moody’s stated: “While many local governments have seen seriously deleterious financial impacts thanks to the pandemic, Morris County appears to be weathering the storm more smoothly than most.’’ Page 2 of 4 S&P awarded its highest rating for Morris County due to some key factors:
  • Very strong economy
  • Very strong management
  • Budgetary performance
  • Very strong budget flexibility
  • Very strong liquidity
  • Strong institutional framework

Moody’s said the county’s current strengths include:
  • Substantial tax base and diverse economy
  • Strong resident wealth and income
  • Financial flexibility
  • Conservative fiscal management practices

“Over the years, Morris County has been proactive when it comes to planning and finance, looking at the long-term picture rather than reacting to what comes our way. I think that foresight is a key factor in our continued Triple-A status,’’ said Freeholder Director and Budget Subcommittee Chair Deborah Smith.

“They were impressed by Morris County’s reaction to COVID-19, to see how we are effectively dealing with these unprecedented issues,’’ said Freeholder John Krickus, a member of the Freeholder Budget Subcommittee. “It has taken years of hard work to put our county in such great fiscal shape to handle it, while also preparing for the future.’’

“It was gratifying to hear the ratings agencies talk about the stability of Morris County and the professionalism of county management and staff,’’ said Freeholder Kathy DeFillippo, also a member of the Freeholder Budget Subcommittee.

Morris County has had a Triple-A rating since 1975. It was the first county government in New Jersey to obtain the prestigious rating and is one of about a dozen in the nation to achieve it. The 2020 renewed Triple A ratings were made after a county finance team, comprised of Freeholders, the County Administrator, Assistant County Administrator, County’s Chief Financial Officer, and others made virtual presentations to ratings agencies last month.

Comments are closed.

    Archives

    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020

    Categories

    All
    Bio Tech
    CARES Act
    Coronavirus
    Essential Business
    Giveaway
    Grants
    Healthcare
    IT Solutions
    Loan Programs
    Mobile Service
    News
    NJEDA
    Pharma
    Printers
    Pro Bono
    Retail
    Training
    Unemployment

    RSS Feed


JOIN Us
REGISTER for Events
FIND a Business
EXCHANGE Ideas
CONTACT Us
YOUR SUCCESS IS OUR MISSION!  Membership keeps you connected to timely information, business resources and your fellow members - now virtually!  You can rely on us.  
We rely on you, too. Your investment in membership provides a stable foundation that allows us to support you: the people who power Morris County's business community!

Picture
Copyright 2021 | All Rights Reserved
MCCC+EDC
325 Columbia Turnpike
​​Suite 101
Florham Park, NJ 07932 
​973.539.3882        ​(MAP)  
Mission: The Morris County Chamber of Commerce collaboratively advances the interests of its members to champion a thriving business and community environment.
Vision: Creating member experiences that foster exceptional business success and quality of life.
  • About
    • Chamber Team
    • Our Mission
    • The President's Desk
    • Morris Business Cabinet
    • Board of Directors
    • What Members Are Saying >
      • Share a Testimonial
    • Frequently Asked Questions
    • Forums & Committees >
      • Committee Chair and Vice Chair Application
      • Ambassadors Council >
        • Ambassadors-Only Resources
      • Business Development Forum
      • Business Strategy & Tactics Forum
      • Environmental & Sustainability Forum
      • Government Affairs
      • Health & Wellness Forum
      • Hispanic Affairs Council
      • Human Resources Committee
      • Not For Profit Roundtable >
        • 2021 NFP Excellence Award Honorees
        • Nonprofit Donations
        • Not For Profit Conference Scholarship App
      • Real Estate Forum
      • Tech Talk Forum
      • Women in Business Program
      • Young Professionals Forum
    • Staff Forms - Internal Use Only
  • Why Join?
    • Join Our Chamber
    • Retail Restaurant Membership
    • Member Benefits
    • The Value of Membership >
      • Grow Your Business
      • Build Your Brand
      • Professional Development & Education
      • Government Advocacy
      • Community Outreach & Volunteering
    • Grand Opening Support
    • Member Marketing Opportunities
    • Enhance Your Directory Listing
    • Member to Member Deals
    • Member Referral Bonus
    • Connect to Morris Job Bank
  • Events
    • Chamber Event Calendar
    • Member Events Calendar
    • 100th Annual Meeting Program
    • Signature Events & Programs
    • Submit an Idea for an Event
  • Find A Member
    • Searchable Business Directory
    • Nonprofit Organizations >
      • Not for Profit Spotlight
    • Professional Services >
      • Accounting, Auditing and Related Services
      • Advertising, Marketing and Related Services
      • Aerospace & Defense
      • Attorneys and Legal Services
      • Architectural, Engineering and Surveying Services
      • Banking and Financial Services
      • Business Consulting and Professional Services
    • Retail, Restaurants, & Service Providers >
      • Arts & Entertainment
      • Auto / Trucks
      • Catering & Food Products
      • Child Care & Day Care
      • Cleaning Services
      • Contractors
      • Decorating & Organizing Services
      • Environmental Services & Recycling
      • Event Planning
      • Farm & Agriculture
      • Fitness & Wellness
      • Health Care
      • Home & Garden
      • Hotels & Conference Centers
      • Moving & Storage
      • Personal Development & Coaching
      • Pet Care
      • Photography & Video Services
      • Restaurants & Bars
      • Retail Stores
      • Senior Care & Related Services
      • Shipping & Delivery
      • Travel & Leisure
    • Higher Education Partners
  • News & Info
    • Member Exchange Online Community
    • Chamber Magazines
    • Coronavirus News
    • Business Resources
    • News Around the Chamber >
      • Submit a Press Release
      • Submit a Neighbors Helping Neighbors Story
    • MCCC Blog >
      • Contribute to Our Blog
    • Chamber Newsletters
    • Social Media
  • Programs
    • Economic Development Corp.
    • Executive Council Program
    • Women in Business Executive Round Table
    • Morris Chamber Toastmasters
    • Mentor Morris
    • Entrepreneur Roundtable
    • Morris Mastermind
    • Leadership Morris >
      • Leadership Morris FAQs
      • Leadership Morris Application
      • Leadership Morris Program
      • Leadership Morris Alumni Council
    • Thrive Morris
    • Work-Based Learning Internship Program
  • MCTV
    • MCCC On-Demand
    • MCTV Let's Talk
    • Actionable Advice Video Library
    • Member Spotlights
  • Member Login