The financial services agency Standard & Poor’s (S&P) has downgraded Beaver County’s credit rating again.

Headquartered in Manhattan, S&P publishes financial research and analysis and is considered one of the “Big Three” credit-rating agencies. S&P is most widely known for its “S&P 500” stock market index.

S&P downgraded Beaver County’s Rating to “BBB+” today from the “A-” rating it was assigned just last year.

The agency’s ratings are an assessment of default risk that range from “AAA” (an organization’s capacity to meet its financial commitments is extremely strong) to “D” (an organization is in actual default of its financial obligations). Similar to credit ratings that individual consumers are familiar with from their own credit reports, the S&P’s ratings can affect an organization’s ability to borrow and shapes interests rates paid on debts.

“The lowered rating reflects our view of the county’s persistent structural imbalance,” said S&P Global Ratings credit analyst Taylor Budrow.

The term “structural imbalance” refers to the county’s ongoing expenditures exceeding its ongoing revenues.

The latest analysis by S&P came as part of the county’s preparations to refinance bonds to achieve cost savings, although the downgraded rating will have a significant impact on how much can be saved. The Board of Commissioners are hoping to use the refinancing to help balance the county’s budget.

While Beaver County’s credit rating was downgraded to “BBB+,” S&P now says the county’s financial position is “stable” compared to the “negative outlook” it had of the county’s finances last year, when it downgraded Beaver County’s credit rating from “A” to “A-” due to “persistent deficits.”

Democratic Commissioner Tony Amadio gave an interview on the radio last week questioning budgetary projections by Financial Administrator Ricardo Luckow that showed deficits — Amadio falsely claimed the county had been experiencing budgetary surpluses.

Republican Commissioners Dan Camp and Sandie Egley told the Beaver Countian today they were advised to not comment about the county’s new credit rating until after refinancing of the bond has been finalized.

44 COMMENTS

    • Again- other than run her mouth off every time she is in a tizzy, can anyone please tell me what the fuck Sandy has done for this county since she has been elected? In my experience, the things the commissioners are responsible are just getting worse and worse, day by day, while all the commissioners do is snipe and bicker, do jack shit for the county, and collect their taxpayer supplied paychecks. But apparently it’s ok as long as Sandy keeps “telling it like it is”? Bullshit.

       
      • Yes I agree, the Commissioner’s agenda IS stymied and the bickering does continue. However, I respectfully disagree with you concerning Sandie Egley’s performance and what “she has done for this county”.

        When she (and Camp) entered government the county was swamped in hidden debt, accumulated over previous administrations. Instead of maintaining the status quo (with Camp/Amadio) or running her “mouth off… in a tizzy” she has attempted to make a difference in the machinations of the county government.

        She has attempted to rein in a runaway budget submitted by the Sheriff’s Department and another from the DA’s office. She used PERSONAL funds to renovate her office. She has requested a State investigation into Joe Askar. Recently, in a bi-partisan move she attended a fund-raiser for Kress, where she said “Doing the right thing isn’t a Democrat, Republican, or Independent thing…”.

        If her “telling it like it is” is bullshit, I’ll take a truckload.

         
      • She has done nothing. She thinks she knows everything! How could she? Doesn’t know anything about government!

         
      • Read the third paragraph of my comment. It’s right above yours, if you can even find it.

         
    • 35 thumbs up, that’s about as many votes that Egley “ there’s not a vacation I won’t take or celebration I won’t attend” will get if she runs again! Her opponents will have fun with all her flip flops!

       
      • This article is 12 days old. You’re persistent, I’ll give you that. Your “quote” was cute and clever, so please direct me to EXACTLY where and when Sandie Egley made the “statement” that you imply she said? As far as flip-flops, we’ll see.

         
  1. Hopefully folks are paying attention to the B.S going on.
    We got to get leaders In there who can lead and move the county ahead instead of dividing everyone and point fingers.
    Where I work many of the employees have come from out of state and many did not choose Beaver County when they bought a house.

     
  2. And the official word from Napoleon Amadio is … “I have no idea where S&P gets their information. Joe and Lee have calculated something much different. I’ve been in politics for 53 years and have never had to answer to a credit downgrade.”

     
    • And in other news, we must retract our story about Tony not standing for the National Anthem … He was standing

       

      Attachments:
      • Ozzie, be careful, the phrase “your fired” is associated with Trump and the righteous, socially cognizant, folk will claim it is a racist action because some where, at some time a black person was told that very phrase.

         
    • @Gringo- PPPPHHHHHRRRRTTTTTTT. That was the sound of me farting all over your post, which is the only response it deserves, you ignorant uneducated fuck.

       
      • EJ,
        So you took time from jacking off to your computer to turn your ass to the screen to fart on my post?

         
  3. Wait……WHAT?!
    This can’t be……..Tony said we have a SURPLUS!……..This HAS to be FAKE NEWS!….RIGHT Tony?!…….You said we have a SURPLUS!!!!!!!………Right Tony?……….Tony?…………Tony?…………Tony?!………

     
  4. Maybe at the next public meeting Tony can be asked directly “you recently claimed on a radio program that the county had a surplus rather than a deficit. Shortly afterwards, you became defensive when asked by the Beaver Countian about this interview and the fact that it was completely inaccurate and/or deceptive based on the CAFR. Now S&P has downgraded the county’s credit rating for a second time. If what you said during the radio interview were true, how do you explain the rationale used in the downgrading of the credit rating since S&P uses information directly from the county and why isn’t what you said as obvious to S&P as it appears to be to you?”

    When he ducks then sidesteps and begins repeating that there was nothing fraudulent, yada, yada, yada…. Ask him to please answer the question posed…and keep asking him until he actually addresses the question.

    PS you might want to work on an answer to this one Tony…. because it’s going to be asked…. And this time you aren’t going to get a pass on answering the question after you finish your little martyr speech.

     
  5. A prior comment of mine is worth repeating. The current office holders are not educated in their fields, are inexperienced, and are relying upon on-the-job training. Incompetent. Wonder why things are screwed up?

    From Beaver Countian articles:

    Candidates qualified for the jobs:

    Tom Leydig — “A graduate of Washington & Jefferson College with a degree in Economics”; many years of successful experience in business.

    Gerald Benyo — Juris Doctorate — “Since 2004 I have had almost 1,600 criminal cases where I was the lead attorney […] Out of the 49,900 attorneys in Pennsylvania, I am one of the 260 that is death penalty qualified. I have had criminal jury trials in Beaver County every year since records were being kept in 2004.”

    Wayne Kress — “A veteran of the United States Air Force where he served as a security Police Officer, and a retired Pennsylvania State Police Trooper, Kress spent considerable time examining the Sheriff’s Office before he ever made the decision to run.” A constant presence, learning at the Courthouse, even though not elected or required to do so.

    Sandie Egley — A professional business woman. Read her LinkedIn professional profile and be prepared to be impressed. Wonder why she is such an intelligent and informed Commissioner?! She earned it, well before taking the job.

     
    • The current “talent”?

      People who got into local politics with little or no prior experience or training in their respective fields. None to unrelated. For example:

      Javens — no prior training or experience. Christiana — a car salesman. Lozier — medical attorney, an ambulance chaser. Guy — a state cop lie detector operator. Javen’s First Deputy Treasurer of Beaver County Cebran Netherland — a disk jockey. Amadio — a retired high school social studies teacher. Camp — a truck scheduler and dispatcher.

      These are not professionals. They are post-high school or untrained hacks from unrelated fields — with on-the-job training and seat-of-the-pants experiences.

      And some people wonder how things got so fucked up?

       
      • You forgot Trump
        A taxpayer siphoning bankrupt real estate trust fund hobby investor who specializes in tv sales

         
    • Sandie Egley qualifications ?? College??? Business woman ? What???? From what business college??? Wasn’t she a clerk in a engineering firm??? How does that qualify her for office of commissioner? She is not qualified!

       
  6. This needs to be THE topic of conversation on the next Commissioner’s Corner on WBVP. I listen to that station out of some type of morbid curiosity just to see what crap the elderly in Beaver County are being fed. Since the Dems use WBVP and the Times as their mouthpiece, that is exactly where Egley needs to drive her point home. Tony needs to be called on the carpet on the radio station that he used to spread his lies. It’s not the fault of the elderly that they get their news from the radio rather than the Beaver Countian, but this is an absolutely golden opportunity to set the record straight for that demographic.

     
    • I think we need to inundate WBVP with questions next week during Commissioner’s Corner about the S&P downgrade. We need to make Tony squirm. That radio station has always been one of his safe havens and we need to undo that for Tony. He deserves no safe haven. Wherever he chooses to spread his lies, that’s where WE need to be. Egley has always been treated with hostility by WBVP and the Times. Maybe if they see a show of solidarity from the informed, they will realize that their position is untenable and they will start to be more objective in their reporting.

      Next week, call the radio station during Commissioner’s Corner. Ask Tony how he can reconcile his previous comments with what S&P has found.

       
  7. Anybody else notice that the county finances have gone DOWNHILL since the sale of Friendship Ridge and since the work on the cracker plant began. All that influx of new money. What kind of economic jump start do we need in this county to get Beaver County somewhat solvent? Amazon???

     
    • Yes, a cash infusion from the sale of FR, plus no more loss of 20K per day as they claimed. Then they pay CHC performance bonus, turning taxpayer money over to them and loaning them 1.8M. We end up with a tax hike. Go Figure.

       
    • No, what we need is to get rid of the triumvirate that got us into this mess due to their incompetence and corruption. Dennis Nichols, Tom Amadio, and Joe Spanik. They mismanaged the county and allowed their fellow row officers to spend money as if it were coming from a bottomless checkbook.

      Two down…. one to go.

      While commissioners can’t directly control the other elected officials, they can cut off the money. They can move the treasurer’s office to the windowless basement and they can pass resolutions that reflect a better hiring process that disqualifies relatives of those currently working in the courthouse.

      Dan, you are being added as fourth thing that must be replaced. You’ve chosen the wrong team to play for….so you have two years to get back to calling and executing plays for the team that hired you but in reality waiting till the last minute to see which ways the wind is blowing will be too late for you. If you are too stupid to see that the electorate is informed and we’re pissed at your performance.

       
      • then you deserve to be replaced. (Somehow that was removed from he end of my previous statement).

         

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