Northumberland board hears financial review

Jackie Nunnery

by Jackie Nunnery

HEATHSVILLE—David Rose, a senior vice president and co-head of public finance with Davenport & Company, on Thursday, March 11, walked Northumberland supervisors through a financial overview for the county as well as an update on the financing of the Reedville and Callao sewer projects.

The county’s current Aa3 credit rating is considered “very strong,” Rose said.

He shared a report from Moody’s Investor’s Service, which noted in May of 2020 that Northumberland County had “notable credit factors that include a small tax base with a healthy wealth and income profile, a solid financial position, a manageable debt burden and a mid-ranged pension liability.” Moody’s Investor’s Service provides credit ratings.

“The one thing we need to do in getting through COVID-19 is to show them there’s not going to be any big surprises or changes….[to-view-more]