For the 52nd year in a row, Montgomery County received a Triple-A bond rating from Moody’s Ratings.
Moody’s Ratings, S&P Global Ratings and Fitch Ratings gave the county their highest achievable rating this year. S&P has given the county an AAA rating since 1976, and Fitch also has since 1991.
“Maintaining our ‘Triple-A’ bond rating for 52 consecutive years is a remarkable achievement that reflects the strength and stability of Montgomery County,” said County Executive Marc Elrich.
“These credit ratings are proof that we have built a community with a robust economy, a diverse tax base and prudent fiscal policies. Our strong ratings allow us to invest more in critical projects—whether it is building new schools, expanding recreational facilities or enhancing transit infrastructure—while saving taxpayers millions in the long run. With only about 50 counties nationwide earning this distinction, we are in elite company.”
Council Vice President Kate Stewart called it a “badge of honor.”
The S&P Global Ratings report stated: “The stable outlook on Montgomery County reflects the County’s very strong local economy and demonstrated resilience to economic cycles, in addition to a very strong management team that we expect will continue to make the necessary adjustments to maintain structural balance. All these factors provide rating stability.”
The Fitch Ratings report stated: “The rating reflects Montgomery County’s ‘aaa’ financial resilience given its ‘ample’ budgetary flexibility. The ratings also reflect the County’s low long-term liabilities assessed by Fitch as strong and strongest demographic and economic level metrics when compared to Fitch’s local government rating portfolio.”
The AAA bond ratings enable Montgomery County to sell long-term bonds at the most favorable rates, saving money over the life of the bonds. The ratings also serve as a benchmark for numerous other financial transactions, ensuring the lowest possible costs in those areas as well, according to a news release from the county.
“Montgomery County’s hard-earned ‘Triple-A’ bond rating reflects our shared commitment to sound fiscal policies and our careful stewardship of taxpayer dollars,” said Council President Andrew Friedson.
