County Maintains Highest Bond Rating
Three major Wall Street companies give Baltimore County a Triple-A rating.
Baltimore County continues to maintain its coveted triple Triple-A bond rating companies.
Fitch, Moody's and Standard and Poor's all gave the county its highest rating. Only about 1 percent of the counties in the United States have a Triple-A rating from all three companies. [All three reports are attached to this story.]
The rating means the county can borrow money at the lowest available interest rates, which saves taxpayers money.
All three companies cited the county's fiscal management and budget practices as reasons for the continued ratings.
"If we are going to continue to fund public safety, education, and rebuild our aging infrastructure, we must continue to manage our budget in a fiscally responsible manner," County Executive Kevin Kamenetz said in an emailed statement.
Fitch and Standard and Poor's gave the county a stable outlook.
Moody's, in its review, gave the county a negative outlook.
Moody's cited a reliance on federal government related jobs and concerns about the so-called fiscal cliff that could affect government employment after the first of the year.
"Moody's believes that the county's rating could be affected by a downgrade of
the US government's rating," the report states.
The rating agency gave the county the same outlook in June.