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Oneida County credit increased as economy is on the rise

By WKTV News

(WKTV) - With the recent surge in economic development taking place in Oneida County, the credit rating for the county is beginning to improve.
 
Standard and Poors, one of the three major credit rating institutions, has taken note of the local growth and raised Oneida County's rating from an A+ to a AA-.
     
This is the second increase in the last five years for a county on the rise.
 
By virtue of this increased rating, it helps us when we go to market," said Oneida County Exec., Anthony Picente. "When we have to borrow for capital projects and for infrastructure that saves taxpayers money. 
 
"It shows we manage our debt well, even though we borrow money - whether it be for capital or retirement, we're paying it back quickly and efficiently."
 

An in-depth budget review and interview process leads to the rating determination, and the additions of Nano Utica, and growth of investments at Griffiss International Airport contributed largely to the increase. 

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