The Chester County Commissioners are celebrating another financial trifecta – the reaffirmation of three separate triple-A bond ratings – an accomplishment that carries an added distinction this year.

The latest recognition marks the 10th year that Chester County has earned – and maintained – the highest possible rating status. It is the only county in Pennsylvania that holds the three triple-A rating distinctions, and is one of just 43 counties nationwide, a county press release said.

Favorable market conditions combined with the reaffirmation of top bond ratings led the Chester County Commissioners to approve an ordinance on Thursday, Feb. 11, authorizing an $80 million bond issue to fund the county’s five-year Capital Investment Program.

In a presentation to the commissioners at their Sunshine Meeting on Tuesday, Feb. 9, Glen Williard, managing director of Public Financial Management in Harrisburg and a financial advisor to the county, noted that the reaffirmed triple-A rating status by all three agencies meant that Chester County’s financing would be at rates lower than any other municipality in the state.

“This 10th consecutive award of triple-A ratings comes through hard work, controlling expenses and continually improving our efficiencies,” said Commissioners’ Chair Terence Farrell in the release. “ Our strategic plan keeps us focused, not only on how to remain fiscally responsible, but on what our citizens want.”

Chester County’s five-year Capital Investment Program reflects those services and programs identified as important to Chester County citizens – from public safety projects, such as the Public Safety Training Center’s police firing range in South Coatesville, to open space preservation and community redevelopment.

“Our triple-A status allows us to produce the lowest cost of debt needed to fund these projects,” Commissioner Kathi Cozzone said in the release. “It’s important to remember that we have maintained our triple-A status despite an economic crisis, rising healthcare costs, and the vagaries of the financial markets.”

Commissioner Michelle Kichline added that the county’s priorities continue to pay off with each review by the rating agencies. “It is worth noting that, because of our sound financial practices and healthy reserves, our top ratings are not jeopardized by factors beyond our control, like the state budget crisis,” Kichline said in the release.

Chester County Chief Operating Officer Mark Rupsis estimated that the three triple-A ratings save the county “more than $1 million during the length of the bond issue.

In reconfirming its Aaa award to Chester County, Moody’s Investors Service noted that Chester County’s tax base would remain one of the strongest and most affluent in the region, due to a favorable location and ongoing development. Standard & Poor’s highlighted the strength of Chester County’s budgetary flexibility and its management policies, including quarterly reports to elected officials, and Fitch Ratings reported that Chester County continues to maintain solid reserve levels and has sufficient cash flow to offset any delays in state revenue.

Mark Rupsis, Chester County’s chief operating officer, said the pricing and sale of bonds would likely occur later in February. Williard said he expected the deal would make $71 million available to the county by the end of March.