Standard and Poor’s Ratings Services recently upgraded Washington County’s bond rating to AA+, the highest bond rating in the county’s history. As reported by the Hagerstown Herald-Mail:
“It’s a very positive thing for Washington County,” County Administrator Gregory B. Murray said after a weekly meeting of the Washington County Board of Commissioners.
“In these economic times, to be upgraded to a Double-A-plus is next to unheard of, and we’re very proud that through the hard work of our employees and the support of our commissioners, we’ve been able to maintain an operating and financial plan that allows the rating agencies on Wall Street to consider us very strong, very stable and able to move forward with a higher rating,” he said.
Washington County was upgraded from a AA rating due to its history of operating surpluses and maintaining cash reserve funds to cover debt service and expenditures. The upgraded bond rating will assist the county in securing better interest rates and repayment terms when borrowing money.