Still years away, Volvo already having positive impact on Berkeley County

Volvo’s decision to build its first U.S. manufacturing plant in Berkeley County already is having a positive impact on that government’s credit rating, with a pair of reports last week giving high marks to $30 million worth of general obligation debt the county agreed to issue in December.

Moody’s and Standard & Poor’s, the nation’s largest credit rating agencies, said the debt is “very high quality” with ratings of Aa2 and AA, respectively.

“We consider the county’s economy strong,” S&P said in its report, adding the outlook “reflects the county’s strong performance and strong debt profile, supported by a growing tax base.”The debt will be used for a variety of projects, such as: work on Sheep Island Road; upgrades to the county’s radio communications system; a 911 facility; and adding services to the county’s Moncks Corner administration building.

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