Prince George\u2019s County Executive Angela Alsobrooks announced on May 29 that Fitch, one of the three financial ratings agencies, has maintained the county\u2019s triple-A bond rating and stable economic outlook.<\/p>
The ratings have also been removed from Under Criteria Observation.<\/p>
\u201cWe are very pleased that Fitch has once again maintained our triple-A rating,\u201d said Alsobrooks in a statement. \u201cDespite our challenges with this year\u2019s budget cycle, this rating is the latest sign that we have fought to maintain the fiscal health of the county. We have made tough choices but have kept our commitment to making the types of investments that will strengthen our county in the long run, and we will continue moving forward with our economic growth strategy and fiscal discipline in our budget so we can maintain our county\u2019s stable economic outlook.\u201d<\/p>
Fitch cited \u201cthe rating reflects the county\u2019s historically strong operating performance supporting its \u2018AAA\u2019 financial resilience assessment.\u201d<\/p>
\u201cThe \u2018AAA\u2019 assessment reflects a \u2018high midrange\u2019 level of budgetary flexibility and Fitch\u2019s expectation that reserves will be maintained at or above 10% of spending (compared to the current 33%).\u201d<\/p>
Alsobrooks said the triple-A bond rating announcement was timely in that she will deliver the county\u2019s State of the Economy address on June 13.<\/p>","protected":false},"excerpt":{"rendered":"
Fitch has maintained Prince George’s County’s triple-A bond rating and stable economic outlook, citing the county’s strong operating performance and high budgetary flexibility.<\/p>\n","protected":false},"author":2340,"featured_media":1205487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"_primary_brand":0,"nota_seo_page_title":"Prince George's County retains AAA bond rating, stable outlook","nota_seo_page_description":"Prince George's County maintains triple-A bond rating, signifying strong financial health and economic growth.","newspack_featured_image_position":"small","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[71935,68825,71939,71938,71940,71937,71936,71941,71934,71933],"brand":[],"newspack_spnsrs_tax":[],"coauthors":[53513],"class_list":["post-1207956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-fitch","tag-prince-georges-county-executive-angela-alsobrooks","tag-the-countys-budget-cycle","tag-the-countys-economic-growth-strategy","tag-the-countys-fiscal-discipline","tag-the-countys-fiscal-health","tag-the-countys-stable-economic-outlook","tag-the-countys-state-of-the-economy-address","tag-the-countys-triple-a-bond-rating","tag-under-criteria-observation","entry"],"apple_news_notices":[],"yoast_head":"\n