Fitch Ratings, a global leader in research and credit ratings, has assigned a AAA rating to the 2016 series of Baltimore County’s taxable general obligation bonds. The rating agency also affirmed the rating of several county bonds.
According to an article from Business Wire:
The bonds, which are expected to sell through negotiation on July 20th, are being issued to partially fund the unfunded present or liability of the County under the portion of the Employees’ Retirement System of Baltimore County closed to new membership effective as of July 1, 2007. The proceeds of the bonds are expected to be used to purchase investments for the benefit of the pension plan.
Read the full article for more information.