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Posted at 12:22 PM ET, 07/ 7/2010

MoCo retains Aaa bond rating

By Washington Post editors

Montgomery County officials have pulled the county back from the prospect of a major fiscal embarrassment.

County Executive Isiah Leggett (D) says Moody's bond rating agency told county officials Wednesday that it has been taken off a watch list for possible downgrade after Leggett and the county council made a series of budget cuts and strengthened policies on county reserves.

The county's coveted Aaa bond rating is now safe.

Moody's had put the county on a watch list because it was relying too heavily on reserves to cover this year's expenses.

Michael Laris

By Washington Post editors  | July 7, 2010; 12:22 PM ET
Categories:  Maryland  
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