Today, Standard & Poor’s Global Rating Services (S&P) and Moody’s Investors Service assigned AA+ rating and Aa2 rating to Cecil County’s 2021 series of general obligation bonds, deeming its fiscal outlook as stable.
The ratings keep borrowing costs low for capital projects and reflect the County’s sound fiscal policies, prudent long-range planning, and robust economy. The rating agencies emphasized Cecil County’s growing economy, sound financial position, and strong management practices.
Standard & Poor’s rating stated:
We view the county’s management as very strong. Although the county experienced turnover in the most recent election, leading to changes in executive as well as key administrative positions, we believe the new team is aligned with past practices to ensure fiscal stability as identified in policies and practices.
“I would like to thank all the staff who supported this critical effort”, stated County Executive Danielle Hornberger. “This bond rating is further evidence of the County’s sound fiscal management and my decision to cut property taxes. While other counties are raising taxes and increasing spending, Cecil County continues to use conservative economic principles that allow us to save money, reduce taxes, and maintain our bond rating, all without raising taxes or raiding the rainy-day fund.”
