Montgomery County Executive Ike Leggett has announced that Montgomery County has retained its AAA bond rating -- the highest possible rating -- from all three bond rating agencies -- Standard & Poor's, Fitch and Moody's.
Among other accomplishments, the rating agencies cited the County's formidable economic base and strong financial management, including measures taken to reverse a former structural imbalance that occurred, in part, due to weakened revenues during the recession.
Montgomery County is one of only 38 counties (out of 3,140) in the U.S. to receive an AAA rating from all three rating agencies.
The rating allows Montgomery County to issue bonds for its capital borrowing at the most favorable rates, saving County taxpayers millions of dollars a year. The AAA rating applies to $295 million in General Obligation bonds and $24 million in General Obligation Refunding bonds the County is issuing on October 10.