Wicomico County Receives Strong AA+ Bond Ratings from Moody’s and S&P
Wicomico County, MD - Wicomico County's AA+ bond ratings have been reaffirmed by both Moody's Investors Service and Standard & Poor's Global Ratings (S&P). S&P also provided a Stable Outlook for the county. The announcement followed detailed financial presentations to the two rating agencies.
This reaffirmation reflects confidence in the county's fiscal management, even as the State of Maryland faces financial challenges like revenue shortfalls and budgetary constraints. Maintaining these ratings highlights the county's stable leadership and disciplined financial strategy.
"Affirming our AA+ bond ratings from both Moody's and S&P - including a stable outlook - during uncertain economic times is a true testament to our team's disciplined approach to financial management," said County Executive Julie Giordano. "This demonstrates the confidence these national agencies have in Wicomico County's ability to manage taxpayer resources responsibly while continuing to move our county forward."
Bond ratings serve as a key indicator of a government's financial health. They affect the county's ability to secure favorable interest rates for major capital projects, which can lead to significant taxpayer savings.
By maintaining strong ratings, Wicomico County can reduce borrowing costs for infrastructure improvements, public safety investments, and economic development initiatives.
During their presentations, county officials outlined Wicomico's fiscal policies and financial performance.
Moody's and S&P noted several factors contributing to the ratings. These include conservative budgeting practices, healthy reserve levels, a growing economic base supported by strategic investments like the Salisbury Regional Airport expansion, and stable leadership focused on financial oversight.
"This is a major accomplishment for Wicomico County and a clear signal that our financial foundation remains strong," Giordano added. "We will continue to prioritize transparency, sound fiscal stewardship, and forward-thinking planning to ensure long-term stability for our residents and position Wicomico County for sustained growth."
The reaffirmed ratings place Wicomico County among the highest-rated jurisdictions on Maryland's Eastern Shore, reflecting its commitment to responsible governance and community investment.
