Frederick County Earns Three AAA Bond Ratings
Strong Fiscal Management Saves Taxpayers Millions
FREDERICK, Md. – Frederick County has once again earned AAA bond ratings from all three major bond rating agencies, County Executive Jessica Fitzwater announced today. Fitch, Moody’s, and Standard & Poor’s each confirmed Frederick County at the top-tier rating based on the County’s outstanding financial management and commitment to strategic, long-term planning.
“Earning AAA bond ratings from all three agencies is a remarkable achievement that underscores Frederick County’s commitment to responsible financial stewardship,” said County Executive Fitzwater. “This recognition reflects the dedication of our employees, whose expertise and hard work ensure our community remains vibrant and financially strong. I am grateful for their continued efforts and proud of what we have accomplished together.”
Frederick County is among a select group of jurisdictions across the country that have received AAA bond ratings from all three major agencies. Just as individuals with excellent credit scores can secure loans or mortgages at more favorable interest rates, these top bond ratings enable Frederick County to obtain lower interest rates on financing for projects such as schools, roads, libraries, parks, and other public infrastructure.
Last month, Fitzwater and Frederick County Government leaders met with credit analysts from all three rating agencies to review the County’s financial reserve policies and fiscal management procedures to address critical needs and priorities.
In their reports, the rating agencies highlighted Frederick County’s “robust and dynamic local economy that has ongoing development across all sectors.” Analysts also noted that financial operations are very strong, and revenues are expected to grow. The county’s prime geographic location, median household income, population growth, and diverse local economic profile contributed to the strong credit rating.
Analysts observed that the County has “well-embedded management policies and practices, with long-term planning that will enable the county to maintain financial stability.” This AAA rating reflects the likelihood that the local economy will remain resilient in the near term and is not expected to change in the coming few years.
For additional information about the bond ratings and methodology, contact Division of Finance Director Erin White at 301-600-1193 or EWhite@FrederickCountyMD.gov.
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CONTACT: Hope Morris
Communications Manager
Office of Communications and Public Engagement
301-600-2590
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