BEL AIR, Md., (Jan. 28, 2026) - Harford County has retained its AAA bond rating in 2026 from all three major, independent bond-rating agencies. The ratings place Harford among less than 2% of counties nationwide to earn the highest possible credit rating from S&P Global Ratings, Moody’s Investors Service, and Fitch Ratings.
“Harford’s AAA credit ratings matter because they save taxpayer money by lowering our cost of borrowing to fund public safety and school facilities, roads, bridges, and other vital infrastructure,” County Executive Bob Cassilly said. “These highest possible ratings from independent professionals also support my administration’s conservative approach to revenue forecasting, budgeting, and fiscal management. I appreciate the rating agencies’ recognition that we eliminated an inherited, major structural deficit ahead of schedule, and we continue to live within our taxpayers’ means. I would like to thank my Treasury, Budget and Economic Development teams, and all county employees, for contributing to this exceptional achievement.”
Regarding the Cassilly administration’s elimination of an inherited $90M structural deficit, S&P noted, “The county was also able to return to a structural balance position a year earlier than anticipated.”
S&P also commended the county’s approach to the budget: “Management is robust, conservative, and uses several outside sources when crafting the budget … Harford County continues to realize expenditure savings, as it closely monitors expenses, exploring saving through efficiencies and other expenditure-saving opportunities.”
Moody’s cited the county’s “Strong financial management, demonstrated by the ability to stabilize operations through cost containment measures and revenue growth.”
Fitch noted that the Harford County's AAA rating “reflects the county's 'Strongest' demographic and economic level metrics, particularly its high median household income and low unemployment rate relative to the national benchmark.”
Harford County’s next annual bond sale is set for February 3; proceeds will help fund the new Riverside Fire & EMS station, the new Homestead Wakefield Elementary School, Harford Technical High School’s renovation, Harford Community College’s Chesapeake Welcome Center, and a systemic HVAC renovation at Aberdeen Middle School, among other major projects.