Fitch Ratings assigned AAA ratings to the following Carroll County general obligation (GO) bonds:
- $30 million public improvement bonds of 2022
The superior ratings keep borrowing costs low for capital projects and reflect the County’s sound fiscal policies, prudent long-range planning, and economic stability. The County will sell the bonds to fund various capital projects on November 3.
The GO bonds are backed by the County’s full faith and credit pledge and its unlimited taxing power, for which the County is empowered and directed to levy unlimited ad valorem taxes.
The Rating Outlook is Stable.
In addition, Fitch has affirmed the following ratings:
- Issuer Default Rating (IDR) at AAA
- Outstanding GO bonds at AAA
According to the Fitch Ratings analysis:
The ‘AAA’ IDR and GO rating reflect the county’s demonstrated ability to maintain healthy financial flexibility. Along with sizable reserves, the county’s broad revenue-raising authority and spending flexibility support its superior level of inherent budget flexibility to address periods of economic stress. Long-term liabilities are expected to remain exceptionally low, reflecting manageable future issuance plans and modest net pension liabilities. Revenue growth prospects are expected to remain solid.
