Leesburg gets first AAA rating
The AAA rating comes as a first for Leesburg, and it means lower interest rates on bonds in the future, according to Leesburg’s Town Manager John Wells. Lower interest rates mean money savings, he said in an official statement.
“Clearly, the hard work that the Town Council and staff have put into financial management, particularly with the development of our long-range budget process, has paid off. We anticipate significant savings through lower interest rates on our bonds, which will be a direct result of the Triple A rating.”
Standard and Poor's Rating Services is one of three major agencies that met in New York in June to discuss the issuing of $23.5 million in bonds later in the summer. In the discussion, all three reevaluated Leesburg for the first time since July 2011.
Moody's Investors Services and Fitch Ratings both stood firm on their previous double AA plus rating, but Moody's changed its outlook for Leesburg from stable to positive. Standard and Poor's Ratings Services and Fitch Ratings both gave the town a stable outlook.
Be the first to post a comment!
Post a commentCommenting is not available in this channel entry.
Comments express only the views of the author and do not necessarily reflect the views of this website or any associated person or entity. Any user who believes a message is objectionable can contact us at [email protected].
- EDITORIAL: For $1 billion, citizens should expect accountability from Loudoun County Public Schools
- Parallels emerge between national election and Virginia governor’s race
- Reston man arrested on DUI, firearm charges
- Loudoun County Republicans condemn Women’s March, say organized by ‘radical leftists’
- Sterling man kicks police officer, reaches for another officer’s gun
|The Loudoun Times-Mirror
is an interactive, digital replica
of the printed newspaper.Click here for all e-editions.