County governments "have navigated the difficult waters of the recession" while keeping debt levels modest, giving them more policy options in the next few years than other levels of government, Standard & Poor's Corp. said in a recent issue of Credit Week Municipal.

Standard & Poor's said countries during the recession have offset declining property and sales taxes with increased fees and reduced capital programs. "Now that the economy is showing signs of recovery, countries are in the comfortable position of meeting new budget priorities without the drag of new debt servicing costs," the rating agency said.

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