For the sixth consecutive year, Montgomery County has succeeded in maintaining Moody’s top credit rating, writes Jeff Ward for WFMZ 69 News. 

Moody’s assesses the risks and rewards of bonds and provides them with a rating that can be used by buyers to make investment decisions. 

Moody’s report stated that the Aaa rating with a stable outlook “reflects the county’s large, dynamic tax base, with a solid financial position and low debt.” 

The report said, “The county has exhibited strong governance in numerous ways, including adopting and adhering to a formal fund balance policy, increasing pension contributions, and raising property tax rates to achieve fiscal balance.”

The higher the rating awarded by Moody’s, the less interest the county must pay when borrowing. 

“With this high-quality rating, we’re able to better leverage our taxpayer dollars for investments into long-term capital planning efforts,” said Board of Commissioners Chairman Kenneth E. Lawrence Jr. 

The timing is good as Montgomery County is preparing to offer around $151 million in bonds on October 3 to support its five-year capital plan. This includes spending on its government campus as well for its roads and bridges plan. 

Read more about the credit rating at WFMZ 69 News. 

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More information on credit rating agencies.