Back to Top

Further reducing of reserve levels could cost NCCo its AAA credit rating

Reserve Spending: The Canary in NCC's Coal Mine -
In January 2015 Moody's cautioned New Castle County about what was, at the time, only a modest draw down of reserves. They warned that any "further reducing of reserve levels" could cost NCCo its AAA credit rating. With total disregard to the warnings of the major rating agencies, Gordon and my opponent have since spent an astounding 32% of NCC's available financial reserves (in only 12 months). Currently at $34 million, NCC's available financial reserves sit at the lowest level in decades, placing our AAA credit rating in more jeopardy than it has ever been.

Paid for by Committee to Elect
Karen Hartley-Nagle
Powered by - Political Websites