Fitch and S & P rate county at AA+, Moody’s Aa1
Leonardtown, MD – Moody’s Investors Service, Fitch Ratings and S & P Global Ratings’ have issued their credit opinions regarding the financial health of St. Mary’s County Government.
The reports note the county’s “strong” financial position with respect to wealth and income levels. The review follows a visit by representatives of the rating agency where they met with county, business and community leaders. The visit allowed them to gain a better perspective on economic and business activities taking place in the county.
The reviews come ahead of a planned bond sale of $30 million in General Obligation (GO) Consolidated Public Improvement Bonds, series 2018, scheduled for September 18, with closing scheduled for October 2.
County financial strengths noted in the reports include:
- Stable tax base and strong economy
- Above average wealth and income levels
- Low debt and pension burdens
- Strong fiscal policies and budget flexibility
- Strong general fund balance reserves
“The reports come as good news for the county as we prepare to sell bonds in September,” said Commissioner President Randy Guy. “Low debt and strong financial management has allowed us to enjoy high credit ratings. Our mission will be to continue our strong fiscal management as we look toward an even brighter financial picture in the coming years.”