County's Triple-A Bond Rating Confirmed

Montgomery County received confirmation today of the county’s coveted “Aaa” bond rating from Moody’s Investors Service, according to a statement from the Montgomery County Office of Communications.

However, the rating comes with the caveat that it is under review for a possible downgrade due to the federal government’s credit rating and how that might relate to county finances.

“Montgomery County’s finances are as sound as they have ever been,” Montgomery County Commissioners Chairman Jim Matthews said.

“The agreement to extend the debt ceiling in Washington today averted an immediate disaster, but it didn’t change the fact that the United States is going to be $20 trillion in debt, and climbing, by 2014, with a minimum three years more of deficit spending after that,” Matthews said.

“Moodys and everyone else in the international financial community is going to be taking a very hard look at all government financings for years to come,” he said.

Montgomery County sought the rating from Moody’s Investors Service in anticipation of a $35 million bond issue to refinance existing debt that the commissioners plan to vote on next week.