Wicomico County’s fiscal health was recently reviewed by the three Wall Street bond rating agencies prior to their issuing new ratings for the county. After the review, Wicomico County Executive Richard M. Pollitt, Jr., announced that, “Once again, my administration has received a strong vote of confidence from Wall Street financial experts. Despite the extremely difficult economic times, Wicomico County has retained its favorable ratings with Moody’s Investors Service (A2), Fitch Ratings (A+/Stable) and Standard & Poor’s (AA-/Stable). At a time when many other States and counties are seeing a downturn in their financial credibility, our steady course of conservative and careful handling of public funds is acknowledged and respected.”
On Wicomico County’s outlook, S & P’s report “… reflects the expectation that the county will continue to effectively manage its budget in response to economic conditions and maintain its strong financial position.”
Pollitt planned to conduct a new bond sale last week to refinance existing county debt at lower interest rates. However, the sale was postponed when it was found that interest rates have begun to climb, thereby negating any potential savings. Pollitt said that the bond sale may be re-scheduled once the market becomes more favorable.
A similar exercise a year ago, netted the county approximately $700,000 in savings on bond payments.
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4 comments:
Hey guys did you all hear that !!!!
Break out my best bottle of Crown.
What the F**K massive layoffs, furloughs,deputies getting screwed by all the freaking politicians in this county. It's like having a Platinum Card with a ten dollar limit on it.
Mike better put his foot down for his people.
Hey deputy - its not all about you. Deputies make more money than most county workers. When one road deputy can make $80,000 a year, there's a problem.
looks to me like all of you have a good job and should be glad you have it alot of people have to work alot harder for alot less.
The bigger problem is when you have a salaried detention center getting hazzard pay (violating policy) but none of the deputie's can get it. (preferential treatment)
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