On July 3, 2025, S&P Global Ratings improved Albany County’s credit outlook from AA with a Stable Outlook to AA with a Positive Outlook.

During Comptroller Rizzo’s tenure, the County has maintained a strong credit rating and reputation in the municipal bond market. This upgrade to Albany County’s outlook allows the County to finance projects such as road improvements and public works initiatives at a lower borrowing cost – benefiting Albany County taxpayers.

“Albany County has had an impressive run of three consecutive years in which the County has not issued debt for capital projects. During this time, proceeds from previous borrowing and general fund monies were used to finance the County’s capital plan. Since 2020, total long-term debt was reduced by over $112 million. In addition to debt reduction, S&P was impressed by the County’s ongoing commitment to increase reserve funds,” said Albany County Comptroller Susan Rizzo.

This accomplishment is the result of collaboration amongst several dedicated leaders, including County Executive Dan McCoy, Commissioner of Management and Budget David Reilly, and Albany County Legislators including Chairwoman Joanne Cunningham, Majority Leader Dennis Feeney and Minority Leader Frank Mauriello.

The bond rating system is based on several factors including current debt, current cash flows and the economic profile of Albany County. A higher rating increased investor confidence and allows the County to issue and sell bonds at a lower interest rate.