Standard and Poor’s Rating Services recently raised Charles County’s bond rating from AA+ to AAA. From the County’s press release,
“AAA” is the highest of Standard & Poor’s bond ratings. According to the news release, the rating upgrade reflects Standard & Poor’s opinion of several factors, including Charles County’s very strong economy with strong income and wealth levels, strong budgetary flexibility, and a diverse revenue stream.
The higher bond rating will allow the county to borrow funds for capital projects at lower interest rates. As reported by Southern Maryland News,
The Standard & Poor’s upgrade to a ‘AAA’ rating is very rewarding. I compare it to receiving an ‘A+’ from your teacher on a school assignment,” Fiscal and Administrative Services Director Dave Eicholtz said in the release. “It is a very positive recognition from an expert evaluation of many factors, including our economy, debt structure, financial condition, demographics and management practices. The Standard & Poor’s upgrade accompanies our other ‘AAA’ rating from Fitch. The ratings continue to show the financial markets that our bonds are a good investment.