St. Mary’s County Government (SMCG) has received a top-tier financial endorsement from Fitch Ratings, earning an upgrade to the coveted ‘AAA’ Issuer Default Rating and General Obligation bond rating. This upgrade positions St. Mary’s County among the nation’s most creditworthy local governments, reflecting robust economic health and fiscal stewardship.
Fitch Ratings’ ‘AAA’ designation highlights the county’s strong median household income, low unemployment rates, and prudent budgetary practices. The upgrade acknowledges the county’s financial resilience, conservative budgeting, and healthy reserves, which have collectively bolstered its reputation for sound fiscal management.
“This exceptional rating demonstrates the Commissioners’ dedication to sound fiscal management and commitment to ensuring the long-term prosperity of St. Mary’s County,” said Commissioner President James Randy Guy. “With our first budget work session of FY26 around the corner, this rating underscores the solid financial foundation that supports local planning and investments.”
The new rating offers tangible benefits for St. Mary’s County. It ensures access to favorable borrowing rates for future projects, reducing costs for taxpayers while enhancing the county’s capacity to invest in critical infrastructure and services.
Decades of Sound Financial Practices Recognized
County Administrator David Weiskopf attributed the achievement to years of diligent efforts by current and former leaders. “Achieving this AAA rating is the result of years of diligent work by our entire team. I would especially like to recognize former Chief Financial Officer Jeanett Cudmore and former County Administrator Dr. Rebecca Bridgett, whose leadership and financial practices laid the groundwork for this accomplishment,” he said.
Fitch Ratings’ decision reflects the county’s ability to weather economic fluctuations while maintaining a stable outlook. The rating further signifies St. Mary’s County’s readiness to manage its growing responsibilities effectively and sustainably.
Opportunities for Public Engagement
The county is moving forward with its FY26 budget planning, with an emphasis on community input. Residents are encouraged to visit St. Mary’s County Government Budget Resources to view the budget timeline, meeting schedules, and provide feedback on local priorities. Videos of the budget sessions are also available on the site.
For a detailed analysis of St. Mary’s County’s upgraded Fitch rating, visit the official Fitch Ratings release at Fitch Ratings.
