Wicomico County Keeps AA+ Bond Rating From S&P

Wicomico County, MD - Wicomico County has earned another strong grade on its finances. S&P Global Ratings has given the county an AA+ bond rating with a Stable Outlook.

A bond rating works a lot like a credit score for a local government. When a county borrows money for big projects, a higher rating usually means it can borrow at a lower interest rate. Over time, that can save taxpayers money.

The new rating covers about $17.5 million in bonds. That money will help pay for building projects and improvements across Wicomico County. S&P also kept its AA+ rating in place for debt the county already holds.

In its report, S&P pointed to the county's "disciplined fiscal management." The agency noted careful spending, strong financial oversight, growing revenues and conservative budgeting.

Savings were one of the main strengths S&P listed. According to the county, its reserves grew from about $96.5 million in 2023 to $128.4 million in 2025. That money serves as a cushion for surprise costs and future needs.

S&P also looked at how the county handles retirement costs. The county keeps paying more than the required amount into its pension plan. Its retiree health benefit fund, known as OPEB, was 112.1% funded in 2025, which S&P said is higher than most state and national peers.

The agency gave the county credit for long-term planning and for its rules on debt, investments and reserves. It also noted that the county has a history of estimating its revenues on the low side when it builds a budget. Based on that record, S&P said it does not expect the county's financial position to weaken.

S&P also noted local investment in aerospace, shipbuilding, medical services, manufacturing and retail. The report mentioned work on housing, workforce training and infrastructure.

The Stable Outlook means S&P expects the county to stay financially strong and keep managing its budget well. The report said the county could earn an even higher rating in the future if economic development efforts keep improving local conditions.

County Executive Julie Giordano said the rating shows the county's choices are paying off.
"This AA+ rating is another independent confirmation that Wicomico County is financially strong and that the decisions we have made are working," said Giordano. "We have been careful with taxpayer dollars, strengthened our savings and continued investing in our County-all while reducing the property tax rate. This shows that we can be fiscally responsible while still investing in the services and projects our community needs."

Giordano also spoke about what the rating means for residents. "We have worked hard to live within our means while still investing in public safety, education, our employees, infrastructure and economic development," Giordano added. "An AA+ rating may sound like just a financial number, but what it really means is that an independent rating agency sees Wicomico County as financially strong and well managed. We will continue protecting taxpayers, planning responsibly and building a stronger economic future for Wicomico County."