Howard County has, once again, earned the highest possible credit rating, AAA, from all three bond rating agencies – Fitch Ratings, Moody’s Investor Services, and Standard & Poor’s. 

Howard County ranks among the top 2% of counties nationwide to earn this vote of confidence based on a stable outlook from experts. Being one of roughly 130 counties with this distinction among approximately 3,100 in the U.S. demonstrates that the County’s financial management is fiscally strong, trustworthy, and responsible.

Fitch cited, “Howard County’s financial resilience is driven by the combination of its ‘High’ revenue control assessment and ‘Midrange’ expenditure control assessment, culminating in a ‘High Midrange’ budgetary flexibility assessment.”

Moody’s highlighted, “The stable outlook reflects the likelihood that the county’s financial position will remain healthy, supported by steady revenue growth and strong management.”

Standard & Poor’s noted, “The county is a desirable, affluent community, with a very strong economy supported by a well-educated population, wealthy property tax base, high household incomes, and direct access to the Baltimore and Washington metropolitan statistical areas (MSAs). In our opinion, these factors, along with surplus financial operations and comprehensive financial management policies and practices have allowed the county to weather economic downturns, experience good tax base and revenue growth, and underpin the ‘AAA’ rating.” Moreover, “Howard County has historically maintained steady financial performance with robust reserve levels throughout economic cycles. Conservative budgeting practices, formalized and well-adhered-to fiscal policies, active participation by the county’s 22-member Spending Affordability Advisory Committee, and a well-seasoned management team are all factors that have sustained the county’s sound financial position.”

See the full press release for notes from the County Executive and Department of Finance Director