The Arlington County government’s top credit ratings have been affirmed by the nation’s three largest rating houses.
Though not unexpected, continuation of the AAA/AAA/Aaa ratings will help the government as its prepares for a major sale of new debt this week.
Moody’s Investor Service, S&P Global Ratings (Standard & Poor’s) and Fitch Ratings each gave the county government the top possible rating for jurisdictions of its size. Just 55 counties nationwide hold AAA/AAA/Aaa ratings from the trio.
“These ratings allow us to continue financing and refinancing capital projects at the lowest possible cost – directly benefiting the entire Arlington community,” County Manager Mark Schwartz said.
S&P’s analysts noted that the rating reflects “our opinion of the county’s demonstrated history of balanced financial results that we expect to continue over the long term, supported by an affluent, resilient and growing property tax base.”
County officials are slated to offer about $93 million in new debt during a sale expected to be conducted June 18.
