Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Washington County, Md.'s series 2013 public improvement and refunding bonds and affirmed its 'AA' long-term rating and underlying rating (SPUR) on the county's general obligation (GO) parity debt. The outlook is stable. The rating reflects our assessment of the county's: Role as a regional employment center for the western portion of the state with commutable access to Washington and Baltimore, offering residents additional economic and employment opportunities; Large and very diverse property tax base which has experienced modest declines following the national economic downturn; Solid financial position, coupled with historically very strong reserves; Strong management team that maintains very conservative and well-adhered-to fiscal policies, and Low overall net debt
