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County Treasurer’s Investment Pool Earns Top Marks From Standard & Poor

The office earns the highest ratings for credit quality and level of protection against changing markets

The Santa Barbara County Treasurer’s Investment Pool has earned ratings of “AAAf” and “S1” from Standard & Poor’s Rating Services.

Per state law, the county treasurer-tax collector pools deposits and invests funds on behalf of county school districts, community college districts, special districts and the county.

The AAAf rating is the highest rating assigned by S&P for credit quality of the pool’s investments. The S1 volatility rating reflects the highest level of protection against sensitivity to changing market conditions.

The pool’s portfolio manager is required to provide monthly updates to S&P allowing the rating agency to assess the ongoing accuracy of the rating.

“The S&P rating is a direct reflection of the degree of care and thought my office puts into managing these assets. We are pleased to have weathered the recent financial storms and are well situated for future market events,” Santa Barbara County Treasurer-Tax Collector Bernice James said. “In addition, we have an excellent Treasury Oversight Committee, comprised of representatives for the entities in the pool and of the public.”

The Treasurer’s Pool ranges in portfolio size from a little less than $800 million to slightly more than $1 billion.

— Stacey Matson is an investment and debt officer with the Santa Barbara County Office of the Treasurer-Tax Collector.

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