The 'A+' rating on Washington County, Md.'s public improvement and refunding bonds series 2002 reflects: A stable economic base, Healthy tax base growth, Good financial performance bolstered by a budget stabilization fund, and A moderate debt burden. Tempering factors include the ongoing state-mandated requirement for general fund support of the county's water and sewer utility. The bonds are secured by the full faith and credit pledge of the county. Of this $33.98 million issue, $23.3 million will be used to refund outstanding bonds while $10.7 million is new money being used to fund education, road and drainage, solid waste, and public facility projects. The rural county is in western Maryland, bordering Pennsylvania and West Virginia. The county's population totals 132,638.
