County Executive Jan Gardner announced today that all three major bond rating agencies have reaffirmed Frederick County Government’s AAA bond rating due to conservative and stable financial management and a prospering economy. AAA stable is the highest possible rating a county can receive.
“This is excellent news! Frederick County’s finances are well managed and our economy is strong and growing,” said Executive Gardner. “These ratings mean that our taxpayers will save millions of dollars. It also means we can make our money go farther in terms of build schools, roads, libraries, fire stations and parks, and all of those things that create a high quality of life in Frederick County. Our long-term planning, conservative budgeting, and our high financial standards are ensuring a bright future for our county.”
During meetings in New York City last week, Executive Gardner and other county leaders meet with the rating agencies to discuss the county’s strong financial reserve policies, sound fiscal management and initiatives such as Livable Frederick, a new approach to master planning.
Fewer than 50 of the nation’s more than 3,000 counties earn AAA bond ratings from all three bond rating agencies, Moody’s, Fitch and Standard & Poor’s. Frederick County joined the elite ranks for the first time in June 2016.
In the reports, Frederick was described as having a “very strong economy,” supported by “very strong management” and “strong operating performance.” Analysts wrote of the county’s “strong operating performance” and its “large, diverse tax base.”