edited by Shannon Rogers
Carroll County has maintained the highest possible credit ratings from the nation’s three major financial rating agencies for the ninth consecutive year, county officials announced Oct. 15.
Fitch Ratings, S&P Global Ratings and Moody’s reaffirmed the county’s AAA, AAA and Aaa ratings, respectively. According to the county, 103 counties nationwide, or about 2%, hold triple-AAA ratings.
The ratings can help Carroll County borrow money at lower interest rates, reducing the cost of financing capital projects. Bond proceeds support projects involving county government, public safety, public works, public schools, conservation and water resources, as well as loans for fire companies.
County officials said the strength and continued growth of the local economy were among the factors supporting the ratings. The ratings also reflect the county’s financial position and ability to manage economic downturns.
Commissioner Joseph Vigliotti, president of the Carroll County Board of Commissioners, credited county leadership and staff with maintaining the ratings.
“This is an incredibly important achievement for the County, brought about by careful decision-making from the Board of Commissioners, and professional, exemplary administration from the Departments of Comptroller, Management and Budget, and Economic Development.
The reaffirmation of the Triple AAA rating confirms not only the creation of responsible budgets, but economic policies as well, and broadens a strong, established reputation that Carroll County maintains as a premier place to live and to work.”
The county said reports from the three credit rating agencies will be posted on its comptroller webpage once finalized.
