Charles County announces that all three major national bond rating agencies: Fitch Ratings, S&P Global Ratings, and Moody’s Investor’s Service, have reaffirmed the county’s AAA bond rating. Bond-rating experts met with County leaders to review the health and stability of the county based on budget management, external audits, financial management, and economic development. This allows the county to maintain low-interest rates when repaying bonds.
“Having our AAA bond rating reaffirmed reflects a solid vote of confidence in Charles County and how the budget and resources are being managed, said Commissioner President Reuben B. Collins, II, Esq. “Our residents can feel assured we are working to secure a bright future in Charles County and to ensure our policies and actions equitably serve all individuals and communities, particularly those that are currently and historically underserved.”
S&P Global Ratings noted, “We view the county’s planning and adaptation efforts as positive, as it continues to build on its climate resiliency through partnerships with federal, state, local, and academic institutions to ensure a comprehensive approach to address each issue area and project.
Moody’s evaluation cites, “The stable outlook reflects the continued growth of the county’s tax base, which derives stability from its location near the Washington metro area. The outlook also considers the county’s healthy financial position and adherence to formal financial and debt policies, which will likely continue to support stable financial operations going forward.” For the announcement, click here.
Fitch Ratings said they expect “the county to maintain a high level of fundamental financial flexibility throughout economic cycles, supported by solid revenue growth prospects, expenditure, and revenue flexibility and sound reserve levels.” For the announcement, click here.
The county’s $70 million general obligation bonds are scheduled for public sale on Tuesday, Nov. 16, to fund improvements in schools, general government facilities, and water and sewer projects.