Loudoun County continued its decade-long streak of receiving a triple-A bond rating from the top ratings agencies in the country, county officials announced Monday.
The county has held the Aaa rating from Moody's since 2004 and the AAA rating from Standards & Poor's and Fitch ratings since 2005.
The Aaa rating from Moody's reflected Loudoun's “sizable and diverse tax base with strong long-term growth potential, above-average wealth levels, consistently solid financial performance and a manageable debt burden,” according to a statement from the agency.
“The reaffirmation of our triple-A rating is good news for Loudoun taxpayers, because it means the county will continue to get the best possible interest rates to finance our capital projects,” Board of Supervisors Chairman Scott K. York (R-At Large) said in a statement.
This year's triple-A ratings comes in advance of the sale of up to nearly $70 million in general obligation bonds later in May, according to the county's public information office. Proceeds from the sale will be used to finance the construction of new schools: Cardinal Ridge Elementary School, Discovery Elementary School, Trailside Middle School, Rocky Ridge High School and Riverside High School; the renovations to Mercer Middle School, Freedom High School, and Loudoun County High School Stadium; the renovation of the Ashburn Volunteer Fire Department station; improvements to several athletic fields across the county; and acquisition of fire-rescue apparatus.
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