Baltimore County Retains AAA Bond Rating

Baltimore County will maintain its triple-A bond rating from the three major rating agencies.

County Executive Kevin Kamenetz announced the ratings from Fitch, Standard and Poor's and Moody's in a statement released this afternoon.

The designation by all three rating agencies is held by only about 1 percent of the counties in the United States, according to the release.

As a practical matter, the ratings signify that the county is fiscally well managed and is a safe investment for purchasers of government bonds. Rating agencies have indicated recently that the U.S. government could lose its triple-A rating for the first time if the debt ceiling is not increased.

The rating also means that the county pays a lower rate of interest to bond holders than it would it the ratings were lower, thus saving county taxpayers money.

"The validation from each of these rating agencies reaffirms Baltimore County's long history of solid fiscal management," said Kamenetz in a statement.  "It is very challenging to manage County finances given the current economic climate in the nation, and it will be even more challenging for local government as we move forward."