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St. Mary's County hears municipal advisor: timing looks favorable for FY17 bond sale as ratings 'on the precipice' of improvement
Summary
A Davenport municipal advisor told St. Mary's County commissioners that low long-term interest rates and the county's scorecard metrics make the planned FY17 bond sale likely to be affordable; Moody's scorecard shows an indicative AA2 rating and staff and consultants plan rating‑agency visits in early June with tentative pricing in late July.
St. Mary's County commissioners heard on Tuesday that current market conditions and the county's fiscal profile should make a planned FY17 bond sale affordable.
The presentation came from Joe Mason, a municipal-advisory representative with Davenport & Company, and was introduced by Jeanette Cudmore of county finance staff. Mason told the commissioners the long-term interest-rate environment is near recent lows and that, “your decision to enter the market at this time is looking like a good one.”
Mason reviewed how rating agencies now publish scorecards and how Saint Mary's County scores on those metrics. Using Moody's scorecard methodology and audited FY2015 data, he said the…
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