All Three Rating Agencies Give Prince George’s County a AAA Bond Rating

For the first time, Prince George’s County has received a AAA bond rating from the three major Wall Street rating agencies.  Standard and Poor’s gave the county its first AAA rating in 2008, and Moody’s Investor Services followed with a AAA? in 2010.  Fitch Ratings was the last agency to do the same.  According to Gazette.net:

Analysts with Fitch Ratings announced May 27 that they upgraded their rating on the county from AA+ to AAA, the highest rating possible. Ratings are a government equivalent to a personal credit score, and indicate to investors the economic strength of a company, fund or municipality.

For Prince George’s, the top rating means that the county can borrow money through bond sales at a lower interest rate, a move that could save the county millions on the cost of building new schools or other major expenses.

The final Fitch upgrade marks the pinnacle of nine years of steady improvement for the county, which was frequently listed as a riskier investment because of its troubles with crime and low-performing schools and a resident-imposed cap on tax increases known as TRIM.

 

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