Montgomery County financial management received the thumbs up from the New York bond rating agencies, the county said in a statement.
Moody’s Investors Service Inc., Standard & Poor’s and Fitch Ratings all affirmed the triple-A rating—the highest achievable—for the county.
A triple-A bond rating means the county can borrow money at generally lower interest rates, saving taxpayers’ money. The rating also serves as a benchmark for other financial transactions, ensuring the lowest possible costs in those areas as well, the county statement said.
Montgomery County has earned Triple-A ratings from Moody’s Investors Service, Inc. every year since April 1973 (47 consecutive years); from Standard & Poor’s every year since 1976 (44 consecutive years) and from Fitch every year since 1991 (29 consecutive years).
Standard & Poor’s analysis called the county’s management “strong.”
“The county continues to see significant economic development that should aid in tax base growth,” the analysis said. “Notably, Marriott International is investing $600 million for its new headquarters in downtown Bethesda. Marriott broke ground last year and once the construction is complete, it is expected to provide at least 3,500 full-time jobs. In addition, there are sizable mixed-use developments occurring in Wheaton, White Flint, Shady Grove, and White Oak, Md.”
