A pair of Orange County investment pools again got a top rating from Fitch Ratings Inc. on Monday.
Fitch’s annual credit review reaffirmed the AAA/V1+ rating given to the Orange County Investment Pool and the Orange County Educational Investment Pool.
Local government investment pools rated AAA meet the highest standards for credit quality, conservative investment policies and safety of principal, according to Fitch.
The pools’ V1+ volatility ratings reflect “low market risk and a strong capacity to return stable principal values to participants, even in severely adverse interest rate environments,” Fitch said.
The county and educational pools, with $3.1 billion and $2.7 billion in assets, respectively, as of Dec. 31, are managed separately by county Treasurer John Moorlach. They have the same investment policy statement, guidelines and objectives, according to Fitch’s report.
