Harford County 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 place Harford among an estimated two percent of counties nationwide to earn the top rating from all three agencies.
The AAA rating keeps borrowing costs low for capital projects and reflects the County’s sound fiscal policies, prudent long-range planning, and robust economy.
“I am proud that Harford County has earned a total of 24 AAA bond ratings over the eight years of my administration, starting from a recession through the pandemic,” County Executive Glassman said. “Most importantly, these top ratings keep the cost of borrowing low for taxpayer-funded projects like schools, roads, bridges, and water quality projects. I want to thank my budget and finance teams, and all county employees, for continuing our record of responsible fiscal management.”
According to a County press release:
In announcing its decision, Fitch Ratings cited Harford’s “robust financial management” and “strong fiscal policies.”
S&P Global Ratings wrote “Harford’s broad and diverse economy remained resilient through the pandemic and recession,” and noted the county’s “strong, well-embedded financial management policies.”
Moody’s Investors Service cited Harford County’s “very strong governance profile” in its rating report, reflecting “both strong institutional structure and demonstrated policy effectiveness.” The report also noted Harford’s “solid transparency and disclosure as well as prudent budget management.”