After going into debt to the tune of $344 million for construction of Paul Brown Stadium, Hamilton County's credit rating has gone up.

        County officials announced Friday that Moody's Investors Service bumped up its bond rating two notches — from the so-called “A2” to “Aa2” — after looking at the plan to issue another $266 million in bonds to build Great American Ball Park.

        The county also asked Fitch, the New York-based credit rating agency, to evaluate its rating and received a slightly higher score.

        A better bond rating means the county will pay less interest on the money it borrows. That's because a higher rating means less risk for investors, so they expect less return.

        All of that will translate into millions in savings over the next 30 years, county officials said.

        Hamilton County Administrator David Krings said he was hoping the bond rating would stay the same, considering all the debt the county has issued recently.

        “We've worked very hard to maintain our bond rating, and they were so impressed they upgraded it,” he said. “You always hope for a little bump, and we got two bumps.”

        The county paid more than $100,000 to have the two agencies evaluate their finances.

        It is unknown exactly how much the higher rating will save over the life of the bonds. That will depend largely on interest rates when the county goes to market later this month.

        Hamilton County Commission President Bob Bedinghaus said the ratings confirm the county has a fiscally sound plan to build two stadiums and parking garages along the city's riverfront.

        “It confirms what we have been saying all along: There are adequate revenues,” Mr. Bedinghaus said.

        “And it is recognition of the conservative approach we are taking.”

        Hamilton County Auditor Dusty Rhodes, a critic of the county's financing plan, has said he is worried the county won't be able to pay all the bills and keep political promises of property tax rollbacks and contributions to the Cincinnati Public Schools.

        Mr. Rhodes said he is happy the county got a higher rating, but said the new rating does not quash his fears.

        “The county's financial plan may be successful in the end, but it is by no stretch of the imagination a conservative plan,” Mr. Rhodes said.

        “You don't have a mortgage party when you get the mortgage, you have one when you burn it. This is a mortgage party in reverse.”

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