Related Thread: Charles County gets AAA Bond Rating
Fitch Rates Charles County, Maryland’s $30MM GOs ‘AA+’
NEW YORK—(BUSINESS WIRE)—Fitch Ratings assigns an ‘AA+’ rating to the following Charles County, Maryland (the county) general obligation (GO) bonds:
—$25,185,000 consolidated public improvement & refunding bonds (tax-exempt series 2010);
—$11,415,000 consolidated public improvement bonds (Taxable BABs - Direct Payment to Issuer, series 2010).
In addition, Fitch affirms $258 million of the county’s outstanding GO bonds at ‘AA+’.
The Rating Outlook for the bonds is Stable.
Fitch will recalibrate the ratings on the above referenced bonds on April 30, 2010 as described in the March 25, 2010 report ‘Recalibration of U.S. Public Finance Ratings’, available at ‘www.fitchratings.com’.
In essence, this was automatic barring a downgrade. The FitchMarch 25 release makes a point of saying this is not an increase in the creditworthiness of the issuers. Essentially, the AA+ was achieved in the Levy Administration, and this is just recalibrating that rating.
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