wilkes

The credit rating of one local government entity remains strong, according to a bond rating firm. Fitch Ratings recently affirms the 'A+' rating on Wilkes County's $14.1 million outstanding public improvements project certificates of participation series 2000. According to Fitch the rating reflects the county's satisfactory credit characteristics, solid legal provisions, the lien on essential government assets, and the fact that COPs are subject to annual appropriation. The rating incorporates a limited county economy concentrated in manufacturing, contributing to the below average wealth indicators and high unemployment rate. Fitch expects that reserve levels will remain solid and the debt burden low, given the county's conservative budgeting and willingness to defer capital projects to enhance financial flexibility.