Fitch Ratings confirmed the investment pool’s “AAA” rating for its highest underlying credit quality — or lowest vulnerability to default — and a very low sensitivity to market risk.
“Despite a volatile financial market this year, our investment team has done an excellent job safeguarding the principal in our investment pool, which reached a record $12.3 billion in public funds last April,” McAllister said.
The Treasurer-Tax Collector’s Office invests the funds in securities on behalf of public agency pool participants, who use the money for the operational and capital needs of their agencies.
“The ‘AAA’ rating reflects the high-quality assets in the investment pool, low degree of risk acceptance and validates the county’s overall strategic focus on safety and preservation of investments,” said Board of Supervisors Chairman Greg Cox.
More than 200 public agencies in the San Diego region invest in the pool, including all 42 public school districts, five community college districts, the San Diego Regional Airport Authority, San Diego Association of Governments, Metropolitan Transit System and other public agencies such as cities and fire and water districts.
— City News Service
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