Columbiana, Ala. - Shelby County Commissioners on Monday saluted employees as a driving force behind the county receiving the highest available credit rating from Moody's Investors Services.

Moody's is giving Shelby County an AA1 rating, the second time the county has received such a rating since 2004.

Commissioners acknowledged the prestigious rating has come at a sacrifice.  The county made budget cuts and laid off several employees when revenues dropped during the recession.  The cuts were needed, commissioners said, to keep the county financially sound.

While discussing the credit rating Monday, Commission Chairwoman Lindsey Allison also pointed to a "pay as you go" philosophy toward money, saying the county prefers to save money before major projects and then pay cash for those projects.  Allison said that keeps the county out of debt and in good favor with financial institutions.

"That's why we have that rating," Allison said.  "It's not because we're out borrowing money left and right to do things and then having to pay it back over time.  So it's a real compliment to this county government that we're getting this rating at this time."

Allison said the rating would help the county receive more favorable rates if, in case, it needed to borrow cash in the future.

"We're not, at this point, anticipating borrowing any money, but if we had to borrow money or refinance or do anything of that nature, we could save substantial sums," she said.

The AA1 rating is quite a turn-around for a county that teetered on the edge of bankruptcy in 1992 and 1993, she added.

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