Suffolk County Executive Ed Romaine Announces Fitch Credit Rating Raised to ‘A’ from ‘A-’

HAUPPAUGE, NY--Suffolk County Executive Ed Romaine announced Fitch Ratings has upgraded Suffolk County to an A bond rating, the second rating agency to do so since he has taken office. Fitch noted the County “implementing operating efficiencies” and “budgeting tax revenues more conservatively” as reasons for the rating boost.

“This sets the stage for future upgrades as we continue to budget responsibly while we ‘right-size’ government and deliver the services expected by the residents of Suffolk County,” said Romaine. “The rating increase will save millions of taxpayer dollars over the long term based on the County’s newfound ability to sell bonds at a decreased interest rate.”

The bond rating comes days after Romaine’s 2025 Proposed Operating Budget was submitted to the Suffolk County Legislature. In February, S&P Global Ratings upgraded Suffolk County’s general obligation (GO) bonds outstanding to AA- from A+ with a stable outlook.

Fitch’s decision is in part due to the “county's continued budgetary stability and maintenance of a sound reserve position,” which may eventually increase another fiscal metric employed by Fitch, the County’s ‘resilience assessment.’

According to Fitch, by reversing a past “trend of structural budgetary imbalances” and using non-recurring revenues, Romaine has put the County on a better fiscal footing, as reflected in Fitch Ratings’ decision to revise Suffolk’s ‘Rating Outlook’ to ‘positive’.

“The budget my administration has submitted ensures we will continue to see the County’s finances strengthen each year,” said Romaine. “I am focused on making Suffolk County safer and more affordable and to continue to be better positioned in the bond market.”   

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