Washington County, Md.'s outlook revision to stable reflects the practices that the county management has taken to address the state aid reductions and internal loans to the Board of Education and Sanitary District that had depleted the county's financial flexibility. The rating reflects a cyclical economic base, average wealth levels, a stabilized and adequate financial position, strengthened fiscal management, and a moderate but increasing debt burden. The county (population 127,000) is located in the western portion of the state and borders on Pennsylvania and West Virginia. Over the past five years, the economic base has withstood downsizing at several major employers, particularly manufacturing entities such as Londontown Corp., which closed its facility in 1994 (peak employment 750 in 1991). However,
