Loudoun County’s general obligation bonds are still the safest bet around, according to the latest from the three major credit ratings institutions.
Moody’s, Fitch Ratings and S&P Global have all once again affirmed Loudoun’s AAA rating on general obligation bonds, noting the county’s economic prospects, diverse tax base, strong financial management, and the steps the county took at the outset of the COVID-19 pandemic to make sure the county’s budget balanced.
“The work that the Board of Supervisors and staff have done to establish and follow sound management practices and fiscal policies has once again manifested itself in the highest possible credit ratings,” stated Supervisor Matthew F. Letourneau (R-Dulles), who chairs the county’s finance committee. “This is particularly notable over the past year as the Board took decisive action in the wake of the COVID-19 pandemic to maintain financial flexibility and conserve resources. These ratings ensure the best possible value to the taxpayers by helping us achieving low interest rates, reducing the cost of our extensive capital improvement program.”
Loudoun County has held the Aaa rating from Moody’s since 2004, and AAA ratings from Fitch Ratings and S&P Global since 2005. The triple-triple-A rating allows the county to sell bonds at low interest rates, bringing down the cost of financing capital projects such as building schools and public facilities.
The three ratings agencies also affirmed Loudoun’s AA+ and Aa1 ratings on the upcoming sale of public facility revenue bonds through the Economic Development Authority, as well as outstanding lease revenue bonds.
More information is at loudoun.gov/BondRatings.