Good news for tax payers: the Standard and Poor's Global Ratings has boosted Monroe County's credit rating from A+ to AA-.

That means lower interest rates for the county.

“This is great news for Monroe County," Monroe County Executive Adam Bello said in a statement. "The upgrade to a AA- bond rating reflects and affirms our realistic and responsible approach to budgeting and proves this county is on solid financial footing,” said Bello. “The improved rating shows that despite the challenges presented by the pandemic, the county has remained fiscally strong, disciplined and resilient. In announcing its decision, S&P specifically highlighted my administration’s sound financial practices, which position us well for the future and will allow us to keep providing vital services and resources to our community as we recover from this public health emergency.”

S&P attributed the better credit rating to strong financial management, conservative budget practices and a timely response to the COVID-19 crisis.

It also says that Monroe County is recovering faster than the New York state average, and is positioned well to continue to recover from the pandemic.