S&P Global Ratings assigned its 'AA+' rating to Washington County, Md.'s series 2023 public improvement general obligation (GO) bonds, totaling approximately $15.1 million. At the same time, we affirmed our 'AA+' rating on the county's GO debt outstanding. The outlook is stable. The county's full-faith-and-credit pledge secures the GO bonds. Officials will use 2023 bond proceeds to finance various capital investments. Washington County consistently produces at least balanced operating results, supported by very strong financial management policies and practices, low fixed costs, and a growing tax base. Management indicates it expects to draw on reserves over the next several years, primarily to address capital needs, but we do not expect this to have a material effect on our view of
