Talbot County earned high bond ratings from both Fitch Ratings and Moody’s Investors Services in advance of selling bonds to finance its Easton Elementary School construction project.
Moody’s assigned an Aa2 general obligation limited tax rating to the County’s $22.7 million Public Improvement Bonds, Series 2020. The rating reflects the County’s sizeable tax base, average income levels, healthy financial position, and low debt burden.
Fitch Ratings assigned a rating of AAA to Talbot County reflecting the county’s very low long-term liability burden and associated fixed carrying costs that are a minimal percent of spending, as well as modest future borrowing plans.
“The Moody and Fitch ratings show just how cautious current and previous Councils have been over the years, even when faced with mounting fiscal requests,” said Talbot County Council President, Corey Pack. “The Council is determined to continue working with County departments to meet the real needs of doing business.”
Talbot County’s Director of Finance, Angela Lane said that the ratings reflect that the County is in a stable financial position and that it can repay its debt. “It’s important to maintain a healthy fund balance so that we can achieve these ratings – which reflect in favorable interest rates when bonds are sold,” Lane said. “It also means that the County can continue to provide necessary services going forward, even through difficult economic times.”
