Montgomery County is pleased to announce that it has received positive ratings from two of the leading bond rating agencies. Moody's Investors Service has assigned an Aa1 rating to Montgomery County's Various Purpose General Obligation Refunding Bonds, Series 2013. Standard & Poor's Ratings Services assigned its 'AA' long-term rating, and stable outlook, to Montgomery County.
Bond ratings measure the financial stability of an organization. The Aa1 and AA ratings indicate safe investment with low risk of failure. Both agencies take into consideration a wide variety of factors including the state of the local economy, the organization’s ability to pay its debt and the organization’s fiscal policies.
“It is incredibly rewarding to be recognized for fiscal responsibility during these challenging economic times,” said Montgomery County Commission President Dan Foley. “Montgomery County’s elected officials are committed to working together to make sound financial decisions that will save thousands of dollars in interest for our taxpayers.”
“These major accomplishments speak volumes about Montgomery County’s commitment to exceptional financial management,” added County Auditor Karl Keith. “These ratings are testimonies to the hard work and effective management practices of county officials and staff who strive to make sound financial decisions.”
Moody’s Investor Service recently stated: “The county’s financial position is expected to remain healthy going forward as operations benefit from management’s focus on long-term planning and dedication to controlling cost growth.”
Standard & Poor notes “The stable outlook reflects our view of the county’s continued consistent strong financial performance, along with strong liquidity and budget flexibility and strong management.”