In Show Of Financial Strength, Montco Earns Top Bond Rating Score

NORRISTOWN, PA — Montgomery County has earned the highest possible credit score in the latest assessment of its financial health, an important sign for the future as it looks to borrow and continue to grow.

It's the third year in a row the county has received the AAA bond rating from Moody's Investors Service. It's particularly notable that it came amidst the ongoing pandemic and the numerous challenges presented by the fight against coronavirus.

"The stable outlook reflects the county's strong current financial position, and our expectation of continued financial operations at this level," Moody's assessment of the county states.

Specifically, analysts acknowledged the ongoing development in the county despite the pandemic, the stability of major businesses in the county including leading pharmaceutical firms, the median family income which sits at 146 percent of the nation, as well as the generally modest debt and pension burden the county faces.

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Montgomery County Commissioner Ken Lawrence said the rating was key to continued spending on the most important projects. Particularly, infrastructure was cited.

"Through careful budgeting and a new bond offering, we can continue our investments in the core functions of county government," Lawrence said. "By securing the highest possible credit rating, we can move forward with numerous projects to bring our roads, bridges, and trail network to a state of good repair."

The Moody's analysis also includes a list of "factors that could lead to a downgrade of the ratings" for Montgomery County. That includes a failure to maintain balanced operations as well as any sustained economic downturn.