ARLINGTON, Va. – For the 14th consecutive year, credit ratings agencies Moody’s, Fitch and Standard & Poor’s have reaffirmed Arlington County’s debt ratings of Aaa/AAA/AAA – the highest ratings. Arlington is one of only 39 counties in the United States to hold this distinction.
“As the County continues to fund critical general government and school capital needs, this reaffirmation of our triple – AAA rating, is an important validation, which allows us to enjoy lower interest rates for our General Obligation bonds and use every dollar as efficiently as possible,” said County Manager Barbara Donnellan.
Moody’s noted that the County’s “continued careful financial management and commitment to maintaining sound financial flexibility are expected to maintain Arlington’s strong fiscal operations.”
Fitch noted that the County’s “debt levels are moderate and expected to remain so given prudent planning and adherence to conservative debt policies.” They also noted that “conservative budgeting, timely tax increases, and closely monitored expenditure controls consistently produce surplus operating results leading to solid reserve levels and liquidity.”
Standard and Poor’s noted the County’s “Very strong debt and contingent liability, driven by low carrying charges, low net debt, and rapid amortization.”
Having a Aaa/AAA/AAA rating ensures that the County will enjoy lower interest rates for its upcoming sale of the Series 2014 General Obligation Public Improvement and Refunding Bonds the week of May 26. More information is available on the County's website.
Arlington, Va., is a world-class residential, business and tourist location that was originally part of the "10 miles square" parcel of land surveyed in 1791 to be the Nation's Capital. Slightly smaller than 26 square miles, it is the geographically smallest self-governing county in the United States, and one of only a handful with the prized Aaa/AAA/AAA bond rating. Arlington maintains a rich variety of stable neighborhoods and quality schools, and has received numerous awards for Smart Growth and transit-oriented development. Home to some of the most influential organizations in the world -- including the Pentagon -- Arlington stands out as one of America's preeminent places to live, visit and do business.