Standard&Poor's Ratings Services assigned its 'AA' long-term rating, and stable outlook, to Washington County, Md.'s series 2011 public improvement and refunding bonds and affirmed its 'AA' long-term rating and underlying rating (SPUR), with a stable outlook, on the county's existing general obligation (GO) parity debt. The rating reflects our opinion of the county's: Role as a regional employment center with commutable access to Washington and Baltimore offering residents additional economic and employment opportunities; Large and very diverse property tax base that continues to exhibit positive growth due to continued commercial development despite the national economic downturn; Solid financial position, coupled with, what we consider, historically very strong reserves; Strong management team that maintains, what we view as, very
