For Immediate Release: Wednesday, October 29, 2025

Montgomery County Executive Marc Elrich and County Council President Kate Stewart announced that Montgomery County has once again achieved the highest possible bond ratings from all three major Wall Street credit rating agencies. Moody’s Ratings, S&P Global Ratings, and Fitch Ratings each reaffirmed Montgomery County’s top-tier Triple-A credit standing for 2025, an accomplishment that continues the County’s unmatched record of fiscal excellence and sound management. Out of the over 3000 counties in the United States, only approximately 50 counties, less than 2%, earned this level of distinction for strong fiscal governance.

“Despite federal funding uncertainty and economic headwinds, the major credit agencies continue to recognize Montgomery County as one of the most fiscally sound jurisdictions in America,” said Montgomery County Executive Marc Elrich. “Their confidence reflects our responsible financial stewardship and success in broadening the County’s economic base beyond our traditional dependence on federal employment. We’ve worked deliberately to attract new industries, from life sciences and technology to advanced manufacturing and clean energy, while keeping our commitments to residents and workers. These ratings affirm what we already know: Montgomery County remains resilient, well-managed, and well-positioned to navigate the challenges ahead.”

This marks 53 consecutive years of Aaa ratings from Moody’s, 40 consecutive years from S&P Global, and 35 consecutive years from Fitch, underscoring Montgomery County’s long-standing reputation as one of the most financially stable and well-managed jurisdictions in the nation. In their analyses, the agencies commended the County’s broad and diverse economy, strong financial policies, and commitment to long-term fiscal sustainability. They cited Montgomery County’s large and diverse tax base, proximity to Washington, D.C., and careful fiscal planning as key drivers of the continued Triple-A ratings.

“Receiving a Triple-A bond rating signifies that Montgomery County is among the best in the nation for fiscal responsibility,” said Council President Kate Stewart, who also serves as chair of the Government Operations and Fiscal Policy Committee. “The County Council’s long-term and strategic approach to fiscal management, combined with our commitment to maintaining healthy reserves, has enabled our County to weather fiscal challenges and make strategic investments to promote economic development and future growth.”

• The Moody’s Ratings report stated: “The Aaa issuer rating reflects the County’s large and robust local economy…Its 2024 reserve position of 28% of revenue is a record high and was generated through conservative budgeting and strong revenue performance.”

• The S&P Global Ratings report stated: “Montgomery County’s credit profile remains stable, despite regional economic uncertainty and expected reserve drawdowns over the next few years. Ongoing local economic growth and diversification support high incomes relative to national averages. Robust financial planning that compares favorably with regional and national peers, along with a predictable revenue profile, result in financial results that largely outperform the budget.”

• The Fitch Ratings report stated: “Montgomery County’s ‘AAA’ IDR and GO bond rating reflects the County’s  ‘aaa’ financial resilience assessment. The assessment is based on the County’s ‘ample’ budgetary flexibility and Fitch’s expectation that it will maintain unrestricted general fund reserves equal to at least 7.5% of total spending.”

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