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Calvert County, Maryland Receives AA- Bond Rating from Standard & Poor's

PRINCE FREDERICK, Md., -- December 03, 1996 -- The Calvert County Board of Commissioners announced that Standard & Poor's, after reconsideration, officially upgraded Calvert County from a bond rating of A+ to AA-. Calvert received the upgrade from Standard & Poor's primarily due to the County's strong financial management, continued economic expansion and an enhanced income profile of the County's residential base.

Bond ratings are one of several criteria used by site selection firms and companies looking to startup or relocate their organizations. The AA- rating is a significant milestone for Calvert County; bond ratings reflect the credit worthiness of a corporation or municipality. The advantage of a higher rating results in a lower interest rate on a bond issue, therefore, a municipality or corporation realizes substantial savings in financing costs. The AA- rating demonstrates Calvert's financial stability, increasing the potential for continued economic growth because investments are less risky for potential investors.

In conjunction with an $18.7 million dollar bond sale dated June 15, 1996, Calvert County was also rated AA by Fitch Investors Service, Inc., and AA by Moody's Investors Service, Inc. St. Mary's County's current ratings are A by Moody's Investors Service, Inc., and A+ by Standard and Poor's. Charles County's current ratings are AA by Moody's Investors Service, Inc., AA- by Standard & Poor's, and AA by Fitch Investors Service, Inc. St. Mary's County is not rated by Fitch Investors Service, Inc. Individuals may obtain an explanation about the significance of bond ratings from the agency furnishing the service.

For more information please contact the Calvert County Department of Administration & Finance at 410-535-1600 x283.

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For more information on the Calvert County, Maryland Department of Economic Development, our visitor sites and attractions and the services available to assist County businesses, call 410.535.4583, 800.331.9771 or 301.855.1880; or send an e-mail to info@ecalvert.com