Darren415/iStock
Some good news for Sonoma County’s pension obligation bonds. International credit rating firm Fitch Ratings has upgraded the bonds from AA to AA+, a sign of increasing fiscal stability. Fitch Ratings also affirmed Sonoma County’s Issuer Default Rating at AA+ and provided a “Stable” ratings outlook. Fitch said the position “reflects the county’s continued strong financial operations,” partly due to building up budgetary reserves. Pension obligation bonds are bonds issued by a state or local government to pay its obligation to the pension fund.