County Executive Leopold Announces Retention of AAA Bond Rating
|Ratings from Standard & Poor's and Moody's reflect FY2012 Budget Plan|
Annapolis,MD (March 25, 2011) - County Executive John R. Leopold today announced that Anne Arundel County has retained its AAA Bond Rating for the fifth consecutive year.
"This Administration has reduced the size of government while not increasing taxes on property or income," CountyExecutive Leopold said. "An AAA rating by the Wall Street firms shows a confidence that our economy is rebounding and we are weathering the fiscal storm."
Last year, Standard and Poor's issued a AAA bondrating and Moody’s Investors Services continued Anne Arundel County’s Aa1 rating.
In a description of its observations, Moody’s noted “strong prospects” for the economy and likelihood of “near-termtax base growth.” The agency cited as negatives contributing to a negative outlook, which is common among municipal ratings with the downturned economy, a lack of political will to increase the income taxand smaller reserves.