Howard County retains bond rating

February 16, 2010|By Larry Carson | Baltimore Sun reporter

Howard County's coveted AAA bond credit rating was renewed for the 13th consecutive year by the three New York bond rating houses, county officials announced Tuesday.

The rating means the county can borrow money at the lowest available interest rates because investing in county bonds is considered to have the lowest level of risk for purchasers. Fewer than 30 jurisdictions nationwide out of about 3,000 receive the rating each year.

County executive Ken Ulman, a Democrat who is planning to run for re-election this year, said the rating shows that he runs a "disciplined government that is conservative when it comes to spending and pro-active when it comes to cutting costs." Trent Kittleman, a Republican who announced her candidacy for county executive Monday, said the county is spending far too freely.

Howard is scheduled to sell $109 million worth of bonds February 23 to finance government expenses.

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