Salisbury, MD — Moody’s Ratings has once again affirmed Wicomico County’s Aa1 credit rating, reinforcing the County’s continued financial strength and responsible fiscal management under County Executive Julie Giordano.
Moody’s assigned an Aa1 rating to Wicomico County’s proposed $17.5 million in 2026 General Obligation Bonds and maintained the County’s Aa1 issuer and general obligation limited tax ratings.
Importantly, Moody’s upgraded Wicomico County to Aa1 in 2024 during the Giordano administration, and the County has successfully maintained that higher rating ever since.
“This is another independent confirmation that Wicomico County is financially strong and moving in the right direction,” said County Executive Julie Giordano. “We earned the Moody’s upgrade to Aa1 in 2024, and two years later we continue to hold that rating strong while investing in public safety, education, our employees, infrastructure and economic development. We have demonstrated that fiscal responsibility and meaningful investment in our community can go hand in hand.”
In its latest analysis, Moody’s specifically cited Wicomico County’s strong financial position, growing tax base, diverse local economy, continued development, strong revenue performance and exceptionally strong reserve and liquidity levels.
Moody’s reported that the County’s full value per capita has increased by an average of 5.6% annually over the past three years, while property and income tax revenues continue to grow. The rating agency also described the County’s leverage as manageable and expects it to remain so as revenues continue to increase and existing debt is repaid.
The report further noted that reserve and liquidity levels each exceeded 80% of revenue in fiscal year 2025, describing those levels as “exceptionally strong.”
The County has maintained this financial strength while simultaneously moving forward with major investments in schools, public safety, roads and infrastructure, water and sewer planning, the Salisbury-Wicomico Regional Airport and other capital priorities.
“We have worked hard to protect taxpayers while strengthening the County’s financial foundation,” Giordano said. “Maintaining our Aa1 rating matters because it demonstrates to taxpayers, businesses and financial markets that Wicomico County is managing its finances responsibly and planning for the future. This is not simply about a rating—it is about the long-term financial health of our County.”
Moody’s also identified the potential for a future rating upgrade if resident income and property values continue to rise and if Wicomico County continues to diversify and expand its local economy.
“Those factors align directly with the work we are doing to attract new businesses, expand our tax base, strengthen our airport and infrastructure, encourage responsible development and create greater economic opportunity throughout Wicomico County,” Giordano added.
The latest Aa1 rating represents another positive financial benchmark for Wicomico County and demonstrates that the 2024 Moody’s upgrade achieved during the Giordano administration has not only been earned, but sustained.
