Credit agencies continue to cite strong fiscal management and stable economic profile
Annapolis, MD - County Executive Steuart Pittman announced that for only the second time in county history, Anne Arundel County received a triple-A rating with all three credit rating agencies – Fitch, Moody’s, andStandard and Poor’s (S & P).
“The ratings agencies confirmed what we already know - we’ve succeeded at investing in our future while remaining fiscally responsible in our present,” said County Executive Pittman.
Last year, Anne Arundel County became one of only 52 counties in the nation to secure a triple-A rating from all three major credit agencies after Fitch upgraded its credit rating. In its report this year, Fitch noted "[Our rating] reflects the county's stable economic underpinnings, superior gap-closing capacity and low long-term liability burden.”
“County Executive Pittman and the County Council have fortified Anne Arundel’s fiscal foundation over the past several years, and these Triple-A ratings are a testament to those efforts,” said Budget Officer Chris Trumbauer. “We are retaining our well earned AAA status with a stable outlook in a time of elevated inflation and economic uncertainty, which is a credit to the vision of the Administration and Council, as well as the hard work of both the Budget and Finance teams.”
Fitch also anticipated that the county will navigate economic downturns while upholding a strong degree of fundamental financial flexibility. All three agencies gave the county a “Stable” outlook.
