FREDERICK COUNTY, Md. (WDVM) — Frederick County, Maryland has earned the prestigious AAA bond ratings from all three major bond rating agencies.

Frederick is one of 49 counties across the nation to receive Fitch, Moody’s, and Standard & Poor’s highest possible ratings based on the county’s very strong fiscal government. The ratings will allow Frederick County to pay lower interest rates on the construction of major projects such as schools, roads, libraries, and parks. This ranking means Frederick county is in a strong financial position.

“This is great news for Frederick County residents. Taxpayers will save millions of dollars as a result of our AAA ratings,” Executive Gardner said. “Frederick County can be proud that our bond rating reflects the strength of our economy and excellent management of our county government and finances. With outstanding services, exceptional schools, safe communities, a diversity of jobs, and a healthy environment, we are well poised for the future.”

The county first received this ranking in June 2016.