County Executive calls it ‘fantastic news.’
Frederick, Md (KM) Good news for Frederick County: all three of the country’s major bond rating agencies have reaffirmed the county’s Triple-A bond rating. Standard and Poor’s, Moody’s Investor Service and Fitch Ratings cite Frederick County’s strong financial management and growing economy.
“That’s fantastic news for Frederick County,” says County Executive Jan Gardner, in a statement. “My administration is focused on saving taxpayers money and managing our budget responsibly. Our economy is growing, we’re adding jobs, and have a reputation for spending conservatively. These ratings are proof that Charter is making us a stronger, more resilient county.”
According to a statement from the county, the ratings reflect financial analysts’ confidence in the county government’s management and financial health. Moody’s, Fitch and Standard and Poor’s each reaffirmed the AAA rating last week. In June, 2016, Frederick County became one of the elite counties in the country earning that AAA rating for each of three bond-rating agencies.
All three rating agencies, according to the statement, said Frederick County has a “very strong economy,” along with “very strong management, with strong financial policies and practices.”
Gardner says the AAA bond rating means Frederick County can borrow money at a lower interest rate, which helps keep down the costs of schools, roads, libraries and parks. She says that saves taxpayers money, and the county gets “more bang for the buck.”
By Kevin McManus