Moody’s upgrades Mercer County credit rating, cites Benson administration’s fiscal management

Mercer County received a significant financial boost this month after credit rating agency Moody’s upgraded the county’s credit rating from Aa2 to Aa1, citing improvements in financial management, growing reserves, and a strong economic development agenda under the County Executive Dan Benson’s administration.

The June 12 upgrade places Mercer County among a select group of counties with one of Moody’s highest credit ratings and is expected to strengthen the county’s ability to borrow at favorable rates for future projects.

Moody’s said the decision was driven in part by what it described as significant progress in stabilizing county finances and advancing economic development. The agency credited county leadership in its report, noting that the “management team, which took over in 2024, has stabilized and rightsized operations,” while also highlighting Mercer County’s increasing financial reserves.

“This credit upgrade is a strong validation of the work we have done to restore long-term financial health to Mercer County while continuing to invest in critical services and infrastructure for our residents,” Dan Benson said.

Moody’s also pointed to Mercer County’s economic development efforts, including the expansion of the Children’s Hospital of Philadelphia into Hamilton Township and plans for a minor league baseball stadium along the riverfront. According to the agency, those and other initiatives have helped drive county GDP growth at a pace materially faster than the nation as a whole.

In addition to the credit upgrade, Moody’s assigned Mercer County a G-1 score, the highest governance score the agency awards to county governments.

“The county has built a deep bench of civil servants and outside professionals to implement its policy objectives. This, plus a combination of a strong state-wide institutional framework and highly conservative budgeting, has allowed the county not only to strengthen its finances but to do so while providing various forms of assistance to its local governments.”

County Commissioner Vice Chair Cathleen Lewis said county officials have worked closely with the administration to maintain the county’s financial footing while continuing to provide services.

“For the last two and a half years, we have worked closely with the Benson Administration to ensure Mercer County’s financial health remains strong while continuing to deliver critical services and infrastructure improvements to our residents,” she stated.

Benson represented the 14th Legislative District in the General Assembly from 2011 until 2023, when he successfully challenged five-term incumbent Brian Hughes in the Democratic primary for Mercer County Executive.