Charles County Retains AAA Bond Rating During Coronavirus Pandemic – Bay Net




LA PLATA, Md. – Charles County announces that all three major national bond rating agencies have reaffirmed the county’s AAA bond rating. Private independent rating services meet with county leaders and fiscal staff annually to evaluate the county’s ability to repay bonds’ principal and interest in a timely manner. Top bond ratings are earned by demonstrating the strength of the county’s financial position and economic stability. This allows the county to maintain low interest rates when repaying bonds.

“Having our AAA bond rating reaffirmed means that due to careful fiscal stewardship, the Board of Commissioners is delivering on its commitment to prudent financial management, even as we deal with unprecedented challenges due to the pandemic,” said Commissioner President Reuben B. Collins, II, Esq. “From an economic standpoint, taxpayers can have peace of mind that we are well positioned to withstand the impacts of this period of economic uncertainty.”

S&P Global Ratings noted that the rating is based on the county’s “very strong management, with strong financial policies and practices under our Financial Management Assessment methodology.” The report highlighted they “view the county’s recent hiring of a chief equity officer to work collaboratively with county leaders on ensuring that policy decisions, service delivery, and resource allocation to achieve diversity outcomes for the workers and residents of the county as unique when compared to the sector standard.” In addition, S&P Global Ratings sees “the county’s proactive and multipronged approach to climate change, focusing on both mitigation and adaptation, as indicative of the
Source…

Related Post