Moody’s, one of Wall Street’s biggest ratings firms, says Montgomery County is in a healthy financial position and has given it Aa1 rating, writes Brian McCrone for NBC10.

The rating by Moody’s, which is its second highest grade, comes as the county is issuing two general obligation debt bonds totaling $51 million. The issue will pay off debt from riskier and higher-interest “swaps” entered into by county officials prior to the Great Recession.

County Commissioner Josh Shapiro said that the current administration has righted the ship after the tumultuous financial situation that has plagued the county in recent years.

“Moody’s has re-confirmed that the county is on the right track and our responsible fiscal policies have established a stable and strong economy, and are setting us up for a secure financial future,” Shapiro said.

Read more about the rating from NBC10 by clicking here.