Fitch Ratings affirms Charles County’s AAA bond rating.
Fitch Ratings assigned a AAA rating to the following Charles County bonds:
- $50 million consolidated public improvement bonds of 2022
In addition, Fitch affirmed the County’s Issuer Default Rating (IDR) and outstanding GO bonds at AAA.
The improvement bonds will finance the costs of certain buildings, facilities, equipment, and grounds. The County will offer the bonds via competitive sale on November 1, 2022.
According to the Fitch Ratings analysis:
Fitch expects Charles County to maintain a high level of financial flexibility throughout economic cycles, consistent with historical performance and supported by superior inherent budget flexibility in the form of an unlimited legal ability to raise revenues and solid expenditure flexibility. The ‘AAA’ rating also reflects solid revenue growth prospects from a growing property tax base and a low long-term liability burden.