S&P upgrades Development Finance Authority bond fund to A-

Rating agency S&P Global has announced an upgrade of the Development Finance Authority of Summit County (DFA)’s Jobs & Investment Bond Fund from a BBB+ rating to an A- with a positive outlook. All bonds within the fund now carry the A- rating.  The bond fund was established in 2004 and “has issued bonds for 32 projects in and around Summit County,” totaling approximately $107.5 million, Cleveland.com reports. In announcing the upgrade, S&P Global “cited the fund’s strong financial risk profile, operating performance history and financial policies.” For more, read the full article.

Economic Development, State Updates