Allegheny County has secured a stable economic forecast with recent affirmations from Moody’s Ratings and S&P Global Ratings, both leading financial services companies providing credit ratings, research, and risk analysis. According to the new reports, Moody's allocated an Aa3 rating to the upcoming General Obligation (GO) Bonds, Series C-80, and the proposed Refunding Bonds, Series C-81, while also upholding the county's Aa3 issuer rating and the Aa3 ratings on outstanding GOULT debt, as reported by Allegheny County's official website.

Parallelly, S&P Global Ratings echoed this sentiment by bestowing an AA- long-term rating on the county's proposed Series C-80 GO Bonds and Series C-81 GO Refunding Bonds, offering, as well, a stable outlook—stresses on proactive management and credit-supportive reserves was the highlight. The county's status as an economic powerhouse within western Pennsylvania, alongside the steadfast backdrop of education and medical institutions in Pittsburgh, was pivotal in both firms' analyses, with Allegheny County being deemed as having a sizable and growing economic base, a factor contributive to the company's ability to manage debt while fostering growth.

The affirmation of financial health from Moody’s and S&P brings forth a wave of approval from local government officials, with County Executive Innamorato expressing satisfaction. "I’m very pleased that both Moody’s and S&P affirmed Allegheny County’s rating and stable outlook. This announcement reinforces that we are on a strong financial footing and have maintained budgeting practices that protect reserves and position us well for years to come," she told Allegheny County's news outlet.

County Council President Pat Catena conveyed pleasure at the affirmed ratings and said, "Through our partnership with County Executive Innamorato, Council looks forward to ensuring continued financial stability for the many residents of Allegheny County," and the Chair of the County Council's Budget and Finance Committee, Bob Palmosina, acknowledged the joined efforts between the administration and council that led to such a positive outcome, stating "As the chair of County Council’s Budget and Finance Committee, I am proud to see the County’s strong financial status be reaffirmed by Moody’s and S&P. This would not be possible without the cooperation and collaboration between the Administration and Council. The dedicated and diligent efforts in making comprehensive and sound financial decisions have always been at our forefront," as cited by the county's press release.