Montgomery County Executive Ike Leggett announced this week that all three rating agencies – Fitch, Moody’s and Standard & Poor’s – affirmed the county’s Triple-A Bond Rating. All three rating agencies noted the county’s stable outlook and sound fiscal management practices.
From the county press release,
The Triple-A bond rating enables Montgomery County to sell long-term bonds at the most favorable rates, saving County taxpayers millions of dollars over the life of the bonds. The rating also serves as a benchmark for numerous other financial transactions, ensuring the lowest possible costs in those areas as well.
“What is remarkable about this is that Montgomery County has continued to receive a Triple-A bond rating from all three bond rating agencies even during these past few years when other jurisdictions – including the federal government – were seeing downgrades and despite federal shutdowns, budget sequestrations and the worst economic downturn since the Great Depression,” said Leggett.
“Our ability to maintain our coveted Triple-A rating affirms my approach to putting the County’s fiscal house in order and reducing unsustainable increases in County spending, while investing in making government more effective and creating opportunities for the growth of good jobs in the future.