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County Executive Neuman to Discuss County’s Strong Economy to Ratings Agencies

Publish Date: 03/10/2014

    

Neuman’s Second Visit to Agencies, but First Full Year as County Executive

 

Annapolis, MD ( March 10, 2014) – Anne Arundel County Executive Laura Neuman will make her second trip to New York  March 11 to meet with members of the three bond rating agencies: Moody’s Investor Services, Standard & Poor’s and Fitch Ratings. County Executive Neuman will discuss Anne Arundel County’s responsible fiscal management, solid workforce, strong economic growth and her vision for the County’s financial future.

 

“We have a great story to tell,” said County Executive Neuman. “Coming on the heels of a down economy coupled with a scandal that created instability and caught the attention of the rating agencies, we have a very different story to tell this year. While we are a fiscally conservative County, we have lived within our means and made tough financial decisions and replenished our Rainy Day reserve fund without raising taxes. I am pleased with our progress and I want the members of the ratings agencies to know what we have done.”

 

County Executive Neuman will highlight:

  • Her vision for the County
  • County’s Key Economic Indicators
  • Financial Update
  • Debt Position
  • Economic Update
  • Economic Development
  • Proposed Bond Offering

County Executive Neuman will be joined by County Council Chairman John Grasso; Chief Administrative Officer Karen Cook; Budget Officer John Hammond; Controller Julie Mussog; and Ed Rothstein, President and CEO of the Anne Arundel Economic Development Corp. William W. Cobbs, and Claire Cohen with the Public Resources Advisory Group, will also attend the daylong meeting.

 

On March 7, Fitch Ratings assigned AA+ ratings to the County’s general obligation (GO) bonds and rated the County’s outlook as stable. Although Fitch Ratings released its report, County Executive Neuman will still make a presentation to the agency. “Anne Arundel County is the best County in Maryland. I won’t stop telling our good news story until we get a AAA rating from all three ratings agencies. It is possible to be fiscally conservative, address long-term liabilities, build reserves and provide a high level of service without burdening taxpayers.”

 

Moody’s and S&P are expected to release their reports by next week.


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