From Harford County government:
County Executive Barry Glassman issued the following statement today following news that Harford County’s Triple-A bond rating has been affirmed:
“I am pleased that Harford County’s Triple-A bond rating has been affirmed this week by all three major bond credit rating agencies. These highest possible ratings by Moody’s, Standard & Poor’s and Fitch will keep borrowing costs low when the county sells bonds to pay for capital projects. While noting the challenges of accumulated debt and declining reserves facing my new administration, Moody’s cited ‘proactive management and comprehensive fiscal policies’ in its decision. Standard & Poor’s cited ‘very strong management’ and Fitch noted the county’s adherence to ‘conservative debt management guidelines.’
Not only do these ratings affirm our fiscal management plan, they are a reflection on our county employees who work with integrity and diligence in service of our customers, the citizens of Harford County.
Finally, I would like to thank my director of administration and my entire team for their ongoing efforts to find efficiencies and ensure our fiscal stability moving forward. We hope that by taking these difficult but necessary steps, we will emerge in a better position to reinvest in our county workforce.”
I understand that Mr. Glassman wishes to connect his policies and administration of the past three months (“our fiscal management plan”) to the decisions of the bond credit rating agencies. However, I don’t understand why he finds himself so unwilling to acknowledge the work of the previous (or the previous two) Republican administration in first gaining the Triple-A Rating that the agencies are affirming/reaffirming.
Typical politician taking credit and giving props to Bonifacefoe something he hasn’t even been a part of any budget cycle yet. Craig’s administration is responsible for the current bond rating. Show a budget first and then pound your chest.
Easy to maintain a balanced budget and sweet credit rating when you don’t spend any money on schools.
Yeah, my bank account would look pretty sweet too if I didn’t feed or dress my children. The rating is obviously desirable, however it was the former county executive’s method to soften the blow of borrowing half a billion (With a B) dollars. The only way he could make the system hold up was by starving all the county budgets. We do however have some pretty new buildings and real estate in Havre de Grace