Business, Politics

Baltimore County retains coveted triple-A bond rating

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TOWSON, MD—Baltimore County officials on Wednesday announced that the county has maintained its 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 Baltimore County taxpayers.

Moody’s Investor Service, Fitch Ratings, and S&P Global Ratings have each reaffirmed the county’s triple-A rating with a stable outlook, making Baltimore County one of only 2% of counties nationwide to receive the highest rating from all three agencies.

“We are proud to have once again retained the highest possible financial ratings — an affirmation of our fiscally responsible management that saves County taxpayers millions of dollars,” said Baltimore County Executive Johnny Olszewski. “Baltimore County remains on strong financial footing, a position from which we will continue to responsibly and equitably invest in residents’ priorities to ensure long-term economic growth for years to come.”

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’s $5 billion Fiscal Year 2025 budget, which was unanimously approved by the County Council earlier this year, provides billions for public education, historic investments in recreation and parks, and continued funding for key priorities, including public safety, housing and community development, sustainability, public works and transportation, libraries, and more.

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