Montgomery County AAA Bond Rating Reaffirmed

As Montgomery County prepares for a bond sale issuance to occur on March 26, Fitch Ratings has assigned a AAA bond rating to the county’s General Obligation bonds.

An article in the Business Wire, highlights the key rating drivers. A few are listed below.

HEALTHY FINANCIAL FUNDAMENTALS: Montgomery County has a sophisticated management team that uses conservative budgeting and has established debt and reserve policies that have resulted in healthy reserve and liquidity levels.

SOLID OPERATING PERFORMANCE: Strong operating results in fiscals 2011 through 2014 have materially enhanced the county’s reserve position. The county’s multi-year financial plan shows a further strengthening of reserves.

BALANCED FISCAL PLAN: The county has adopted a multi-year fiscal plan that balances current resources against spending and continues to address other critical operating priorities relating to fund balance replenishment, pay-as-you-go capital, and other post-employment benefits (OPEB).

STRONG ECONOMIC CORE: The stable regional economy is anchored by the extensive presence of the federal government and related contracting employment, marked by consistently low rates of unemployment, a highly skilled labor force, and very high income metrics

More information from the Fitch analysis can be found in the article.