It is one of 52 counties with this distinction.
Frederick, Md (KM) Frederick County has once again earned the AAA bond rating from all three of the nation’s major bond rating agencies. It is one of 52 counties in the country which has this distinction, which is the highest possible rating for any county. . .
County Executive Jessica Fitzwater says Fitch, Moody’s Investor Services and Standard and Poor recently reaffirmed this rating based on very strong fiscal governance and policies. “We can be proud that Frederick County is recognized among the best in the nation when it comes to managing tax dollars,”: says Fitzwater, in a statement. “By establishing financial policies, and following those polices, we can earn high ratings, which allows us to continue building schools and other important infrastructure.”
This rating means Frederick County will pay lower interest rates when it goes to the bond market to borrow money to pay for construction of schools, roads, libraries and parks.
County Executive Fitzwater and other Frederick County Government leaders met last month with credit analysts with all three rating agencies in New York to review the county’s financial reserve policies, fiscal management, and policies and procedures to address climate change, cybersecurity and other critical issues.
The three agencies, in their reports, cited Frederick County’s “strong operating performance,” and said County Government benefits from “strong financial management.” Also, the analysts commented on the county’s “healthy financial position,”: and its growing biotech industry and financial resilience. They also took note of the County Government’s “low overall debt,” and its’ “healthy operating surpluses and solid stable reserves.”
In a statement from County Government, Fitzwater expressed her appreciation to the county’s employees who work hard each day to make sure taxpayer dollars are well managed. “Our people are our greatest asset,”: she said.
By Kevin McManus