EAGLE ALERT: Carroll County bond rating increased to AA+
Rating will impact county's Nov. 13 sale of $80 million in bonds
Posted 11/11/08
Carroll County officials announced Tuesday that Standard & Poor’s credit rating house has upgraded Carroll County’s bond rating to AA+ status.
Officials said the county’s excellent rating was due in part to, “excellent management practices with long-range planning that guides county growth and development,” as cited by Standard & Poor.
The other national bond rating agencies — Fitch Ratings and Moody’s Investors Services — maintained their rating of the county, issuing AA+ and Aa2 ratings, respectively, in the annual review.
Financial agencies use a scale of C through AAA to rate the financial position of the issuer, with AAA reflecting the strongest position. The higher the rating, the lower the interest rate Carroll County must pay on bonds issued for construction projects, such as new schools and roads.
On Nov. 13, the county will sell $80 million in general obligation bonds to the bidder offering the lowest interest rate.
Proceeds will pay for a portion of the construction of Manchester Valley High School, a new classroom building at Carroll Community College, agricultural land preservation, and public works projects.
Rating agencies include analyses with their ratings.
“Carroll County’s financial position remains strong, bolstered by established and well-adhered to fiscal policies and long-term planning,” S&P’s analysts wrote.
Officials said the county’s excellent rating was due in part to, “excellent management practices with long-range planning that guides county growth and development,” as cited by Standard & Poor.
The other national bond rating agencies — Fitch Ratings and Moody’s Investors Services — maintained their rating of the county, issuing AA+ and Aa2 ratings, respectively, in the annual review.
Financial agencies use a scale of C through AAA to rate the financial position of the issuer, with AAA reflecting the strongest position. The higher the rating, the lower the interest rate Carroll County must pay on bonds issued for construction projects, such as new schools and roads.
On Nov. 13, the county will sell $80 million in general obligation bonds to the bidder offering the lowest interest rate.
Proceeds will pay for a portion of the construction of Manchester Valley High School, a new classroom building at Carroll Community College, agricultural land preservation, and public works projects.
Rating agencies include analyses with their ratings.
“Carroll County’s financial position remains strong, bolstered by established and well-adhered to fiscal policies and long-term planning,” S&P’s analysts wrote.
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