Triple-A rated Montgomery County heads into a competitive sale tomorrow of $250 million of general obligation debt. Proceeds will fund capital projects such as schools, roads, and mass transit facilities.
In assigning triple-A ratings to the deal, Fitch Ratings, Moody’s Investors Service, and Standard & Poor’s both cited the large U.S. government presence — 23 federal agencies employing about 68,000 civilians — as fuel for Montgomery County’s affluent and stable economy. Its biotechnology sector is growing, and so are its four major commercial districts, according to Fitch. Moody’s said the county’s tax base is likely to expand steadily.