Erie County officials emphasized the area's improved fiscal health and the county's upgraded financial practices during a series of meetings today with representatives of a nationally known bond-rating firm.
While the session was billed as informational, Erie County officials are hoping Standard & Poors will ultimately upgrade the county's bond rating. Higher ratings reduce the cost of borrowing money in the bond market.
Two Standard & Poors representatives met this morning with County Executive Gorski, who presented the bond company officials an overview of Erie County's fiscal position.
Detailed presentations were made this morning on waterfront development, the proposal to bring the World University Games to Buffalo in 1993 and economic trends in Erie County.
Later today, the Standard & Poors officials were scheduled to meet with Gorski, County Comptroller Alfreda W. Slominski and County Budget Director Sheila K. Kee to get detailed information on the county's budget and financial status.
The company last reviewed Erie County's fiscal status in 1987, when it issued Erie County a bond rating of BBB. That is at the high end of the mid-level ratings.