S&P ups Frederick County G.O. rating to AA+

Standard & Poor's said it raised its rating on Frederick County, Md.'s outstanding general obligation bonds to AA+ from AA and assigned that rating to the county's $79.38 million series 2008 G.O. bonds. The outlook is stable.

The upgrade reflects consistent economic growth within the county, said S&P, as well as the strength of the county's financial position as it continues to maintain strong reserve levels while funding a portion of capital needs internally.

Proceeds from the new issue will be used to finance capital projects, including water and sewer infrastructure needs and education projects.

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