Report: Federal Budget Problems Could Impact County's AAA Bond Rating

Automatic cuts at the federal level could impact counties.

  Howard County Budget director Ray Wacks told the County Council on Monday that if the federal government's AAA bond rating is downgraded due to federal budget problems, the county's bond rating could be downgraded as well, according to an Explore Howard report. Wacks told the council that Moody's believes jurisdictions with significant exposure to the federal government, such as through federal jobs, cannot have a higher bond rating than the federal government, reported Explore Howard. Howard County has kept a AAA bond rating, the highest possible rating, since the mid-1990s, an achievement Howard County Executive Ken Ulman touted in his recent State of the County address. The bond rating helps the county access lower interest rates on …

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