Two of three bond rating agencies assign “Aaa” rating
(Bel Air, MD) - - Harford County Government has learned they have maintained their bond ratings as assigned by three bond rating agencies. Harford County received a “Aaa” bond rating from Moody’s Investor’s Service and Fitch Ratings, while Standard and Poor’s rated the county as “AA+” - the same rating as in 2012.
Last month County Executive David R. Craig and members of his Administration traveled to New York and met with the bond rating agencies in an effort to secure the best rating for Harford County. Those accompanying the County Executive were Mary Chance, Director of Administration, Kathryn Hewitt, Treasurer, Jim Richardson, Director of the Office of Economic Development and Aaron Tomarchio, Chief of Staff.
The two-day trip to New York included detailed briefings with Standard and Poor’s, Moody’s Investor’s Service and Fitch Ratings as the county strived to obtain the coveted “Aaa” bond rating from each of the agencies.
Commenting on his meetings with the bond rating agencies and their final report, County Executive Craig said, “We looked forward to the opportunity to meet with the three bond rating agencies and shared with them our recipe for financial success. Although we would have liked to have received an “Aaa” bond rating from all three organizations, we are grateful for maintaining our ratings from 2012.”
Also commenting on the bond ratings, Jim Richardson, Director of the Office of Economic Development said, “We continue to work to bring business to Harford County and grow our business community and the local economy. Moving forward, with our sound financial management and economic base, we are positioned well for a successful future.”