When County Chairwoman Phyllis Randall (D-At Large) accompanied Loudoun’s financial team to meet with bond raters in New York City last month she said there were lots of questions about the Board of Supervisors with five new members.
She must have given the right answers.
On Monday, Fitch Ratings assigned a AAA rating to the county’s upcoming $180.45 million bond issue and affirmed its top-level rating for the balance of the county’s $813.5 million in outstanding general obligation bond debt. Fitch also upgraded the county’s Metro Service District bonds issued through the Loudoun Economic Development Authority from AA to AA+.
The “ratings reflect exceptionally strong operating performance, supported by solid revenue growth and expenditure flexibility, and a modest long-term liability burden,” the agency stated in its announcement.