Standard & Poor’s raises Fauquier County bond rating
Wednesday, May. 21
Fauquier Times staff
Fauquier officials announced Wednesday that Standard & Poor's Ratings Services raised its rating on the county’s general obligation bonds from "AA" to "AA+".
The change reflects Fauquier’s "strong liquidity, strong management practices and strong debt profile, supported by a very strong regional economy," the ratings agency said.
"This change benefits the county by allowing it to borrow money at better rates," said County Administrator Paul McCulla. "I have to commend our staff in the budget and finance departments for their all due diligence on this."
Added Board of Supervisors Chairman Chester Stribling: "Thank you to all who made this happen."
Some of the factors noted by Standard & Poor's include low unemployment, strong budgetary flexibility, cash liquidity, and solid management practices.
Kudos to the County team and hopefuly, coupled with economic development, the county’s future monetary needs will be met.
By Don Khoury on 2014 05 22
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