TOWSON, MD—County Executive Johnny Olszewski on Monday announced that Baltimore County has maintained triple-A bond ratings from all three major rating agencies, allowing the County to continue issuing bonds at the lowest possible interest rate and saving millions of dollars for County taxpayers.
Moody’s Investor Service, Fitch Ratings, and S&P Global Ratings have each reaffirmed the County’s triple-A rating, making Baltimore County one of only 2% of counties nationwide to receive the highest rating from all three agencies.
“Baltimore County is proud to have again retained the highest possible financial ratings, affirming our ongoing responsible financial stewardship and making us among a select few counties across America to have earned this distinction” said Baltimore County Executive Johnny Olszewski. “Baltimore County remains on strong fiscal footing and we will continue to focus on equitably investing in our residents’ priorities and further strengthening our long-term fiscal health.”
In their reports, the rating agencies highlighted Baltimore County’s “broad and diverse economy,” and noted the County’s “history of strong financial operations supported by conservative budgeting and comprehensive management practices.”
Olszewski’s first budget closed an $81 million deficit and trimmed $35 million in unnecessary spending while making record investments in public education and taking additional steps to stabilizing costs for retiree health care benefits.
The administration continues to make record investments in education, allocated funding to expand mental health services, and invested significant new resources in recreational and green space opportunities, among other priorities.
Olszewski is currently hosting this fifth annual budget town hall series to hear from residents about their thoughts and concerns on how the county should prioritize future spending.
Olszewski will submit his proposed Fiscal Year 2024 budget to the County Council on April 13, 2023.
