Bond outlook upgraded for Anne Arundel County

June 17, 2013|By Pamela Wood, The Baltimore Sun

Credit rating house Standard & Poor has assigned Anne Arundel County's bonds a AAA rating and upgraded its assessment of the county's fiscal outlook from "negative" to "stable," officials announced Monday.

Moody's, another credit rating house, gave the bonds an Aa1 rating, and also upgraded the outlook from "negative" to "stable."

Moody's praised the county for rebuilding reserves, having a "modest debt profile" and a relatively diverse economy. Likewise, Standard & Poor's highlighted the county's diverse economy, low debt and its "large, but manageable, capital plan."

County Executive Laura Neuman said positive ratings and outlooks came after a presentation she led before the bond rating agencies in New York City last week.

Neuman was joined in New York by county budget officer John Hammond, county controller Richard Drain, Chief Administrative Officer Karen Cook and County Council Chairman Jerry Walker.

Neuman said the county executive and County Council were not represented at the bond rating meetings in past years.

"It was a show of force and support and a solid, interconnected team," Neuman said last week after returning from New York.

Baltimore Sun Articles
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.