The Calvert County Board of County Commissioners (BOCC) recently announced that the county has received its highest AAA bond ratings in history from all three independent credit rating agencies.
According to the county’s press release,
Fitch Ratings, Standard & Poor’s Rating Services and Moody’s Investors Services, have assigned Calvert County their highest AAA ratings due to the county’s consistently sound financial operations, strong reserves, conservative fiscal policies and growing economy.
Fitch Ratings and Standard & Poor’s reaffirmed their highest AAA ratings. Moody’s previous rating of Aa1 with a positive outlook has moved to Aaa stable. Moody’s Aaa rating reflects the county’s sound financial position, which is strengthened by formal policies and conservative management, manageable debt and pension liabilities, a moderately-sized tax base with strong demographics and anticipated commercial tax base growth, noting that 10 of the largest commercial taxpayers account for 17.8 percent of 2015 assessed values. The rating also reflects the expectation that the county’s fiscal position will remain healthy and the impact of the Dominion Cove Point liquefaction project will provide additional new revenues.