Credit agencies continue to cite strong fiscal management and economic stability.
County Executive Steuart Pittman announced that for only the second time in county history, Anne Arundel County received a triple-A rating from all three credit rating agencies: Fitch, Moody’s, and Standard and Poor’s (S&P). The ratings keep borrowing costs low for capital projects and reflect the County’s sound fiscal policies, prudent long-range planning, and stable economic profile.
“The ratings agencies confirmed what we already know – we’ve succeeded at investing in our future while remaining fiscally responsible in our present,” said County Executive Pittman.
Last year, Anne Arundel County became one of only 52 counties nationwide to secure a triple-A rating from all three major credit agencies after Fitch upgraded its credit rating. Fitch’s report this year noted, “[Our rating] reflects the county’s stable economic underpinnings, superior gap-closing capacity, and low long-term liability burden.”
“County Executive Pittman and the County Council have fortified Anne Arundel’s fiscal foundation over the past several years, and these Triple-A ratings are a testament to those efforts,” said Budget Officer Chris Trumbauer. “We are retaining our well-earned AAA status with a stable outlook in a time of elevated inflation and economic uncertainty, which is a credit to the vision of the Administration and Council, as well as the hard work of both the Budget and Finance teams.”
Fitch also anticipated the County’s ability to navigate economic downturns while upholding fundamental financial flexibility. All three agencies gave the County a “Stable” outlook.
