Montgomery County Commissioners have announced that for the third consecutive time, Moody’s Investors Service has confirmed the county’s coveted Aaa bond rating.
Moody’s cited Montgomery County’s large dynamic tax base and continued development despite the pandemic as one of the reasons for reaffirming the high rating.
Stable employers that include several pharmaceutical firms also played a role, as did the satisfactory wealth of its residents.
Moody’s also considered the county’s modest debt and pension burden along with its strong overall financial profile. Finally, the rating reflects the robust reserve levels the county currently keeps that are planned to be maintained within a good range in the future.
With its strong credit rating reaffirmed, the county can continue to borrow money at the lowest interest rates available. In addition, reduced debt service makes it possible for the county to continue to invest in crucial infrastructure and improve the services on offer to its residents.
“Despite this year’s challenges, Montgomery County is on sound financial footing,” said Dr. Valerie A. Arkoosh, Chair of the Montgomery County Board of Commissioners.
“We continue to adhere to our fiscal priorities, invest in long term capital planning, improve our aging infrastructure, and work to maintain an appropriate fund balance.”