All three major national bond rating agencies announced today that they have reaffirmed Charles County’s AAA bond rating.
The county’s AAA bond rating will allow it to maintain low interest rates on the future repayment of bonds.
The three bond rating agencies, Fitch Ratings, S&P Global Ratings, and Moody’s Investor’s Service, each issued statements on the county’s AAA rating:
- S&P Global Ratings said, “we view the county’s planning and adaptation efforts as positive, as it continues to build on its climate resiliency through partnerships with federal, state, local, and academic institutions to ensure a comprehensive approach to address each issue area and project.
- Moody’s evaluation cites, “The stable outlook reflects the continued growth of the county’s tax base, which derives stability from its location near the Washington metro area. The outlook also considers the county’s healthy financial position and adherence to formal financial and debt policies, which will likely continue to support stable financial operations going forward.”
- Fitch Ratings said they expect “the county to maintain a high level of fundamental financial flexibility throughout economic cycles, supported by solid revenue growth prospects, expenditure and revenue flexibility and sound reserve levels.”
Notably, the county’s $70 million general obligation bonds are scheduled for public sale on Tuesday, Nov. 16, to fund improvements in schools, general government facilities, and water and sewer projects.