Wayne County received a vote of confidence via a new report from a credit rating firm that shows the county is in a strong financial position.

The rating agency based the improved rating on Wayne County’s reserves, reduced liabilities, and economic growth.

Moody’s Ratings has upgraded the County’s issuer rating and its general obligation bonds to Aa3 from A1, citing Wayne County’s strong reserves, declining long-term liabilities, and growing economic base.

The upgrade marks Wayne County’s continued upward trajectory in fiscal health. Wayne County was on the brink of bankruptcy about 10 years ago.

Since 2021, the County’s available fund balance ratio has climbed from 42% to 72%, while liabilities have dropped to their lowest level in decades, Wayne County officials said in a release.

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