Statement from County Executive Barry Glassman on Triple-A Bond Rating for Harford County

March 27, 2015

For more information, contact:
Cindy Mumby
Phone: 410-340-5376
Email: [email protected]

Statement from County Executive Barry Glassman on Triple-A Bond Rating for Harford County

BEL AIR, Md., (March 27, 2015) – County Executive Barry Glassman issued the following statement today following news that Harford County’s Triple-A bond rating has been affirmed:

“I am pleased that Harford County’s Triple-A bond rating has been affirmed this week by all three major bond credit rating agencies.  These highest possible ratings by Moody’s, Standard & Poor’s and Fitch will keep borrowing costs low when the county sells bonds to pay for capital projects.  While noting the challenges of accumulated debt and declining reserves facing my new administration, Moody’s cited ‘proactive management and comprehensive fiscal policies’ in its decision.  Standard & Poor’s cited ‘very strong management’ and Fitch noted the county’s adherence to ‘conservative debt management guidelines.’

Not only do these ratings affirm our fiscal management plan, they are a reflection on our county employees who work with integrity and diligence in service of our customers, the citizens of Harford County.

Finally, I would like to thank my director of administration and my entire team for their ongoing efforts to find efficiencies and ensure our fiscal stability moving forward.  We hope that by taking these difficult but necessary steps, we will emerge in a better position to reinvest in our county workforce.”