St. Louis County Receives AA+ Credit Rates

By KBJR News 1

November 11, 2013 Updated Nov 11, 2013 at 7:48 PM CDT

St. Louis County, MN (NNCNOW.COM)

St. Louis County has once again improved it's credit rating.
This is the third time the county has seen a positive increase since 2004.

Standard and Poor's rating services has given St. Louis County a Double A+ rating. That's just one step under the highest possible rating of Triple A.

The positive improvement has allowed the county to receive a decreased interest rate and issue a 5 and a half million dollar general obligation capital improvement bond.

The funds will go toward improvements at the Northeast region corrections center.

"In the past there have been times that we've had people staying in jail when they should have been in the correctional facility. And it's really a lot more costly to keep them incarcerated in the jail as opposed to keeping them in the Northeast Regional Correctional Facility," says Don Dicklich.

Dicklich says the rating shows the counties sound fiscal policies.

The corrections center works to house and rehabilitate it's inhabitants.

gware@kbjr.com