Frederick County Executive Jan Gardner today announced that the three major bond rating agencies reaffirmed the County’s AAA bond rating. The ratings from Fitch, Moody’s, and Standard & Poor’s reflect the County’s sound fiscal policies, prudent long-range planning, and robust economy.
According to a press release:
“This is another win for Frederick County residents. Taxpayers will save millions of dollars as a result of our AAA ratings,” Executive Gardner said. “Frederick County can be proud that our bond rating reflects the strength of our economy and excellent management of our county government and finances. With outstanding services, exceptional schools, safe communities, a diversity of jobs and a healthy environment, we are well poised for the future.”
Frederick County is one of fewer than 50 of the nation’s more than 3,000 counties to earn AAA bond ratings from all three bond rating agencies. The county joined the elite ranks for the first time in June 2016. Top ratings allow Frederick County to pay lower interest rates on the construction of schools, roads, libraries, parks, and more. The county also plans to refinance old bonds at a lower rate, which will save an estimated $2 million.