PRINCE WILLIAM COUNTY, VA . . . Recently Moody’s, Fitch Ratings and Standard & Poor’s assigned Prince William County their highest possible ratings for the upcoming sale of $32.1 million General Obligation Bonds and $69.3 million in Special Obligation School Financing Bonds. General obligation bonds are used to fund road and park projects; school bonds for school related projects.
In awarding its coveted Aaa rating, Moody’ noted the County’s “strong financial flexibility supported by effective management and ample liquidity, and manageable debt burden.”
Fitch’s AAA rating was awarded based in part on the County’s “favorable location on the outskirts of the Washington, D.C. metropolitan region, its relative affordability, and a well-educated and trained workforce.”
Standard & Poor’s rating of AAA noted Prince William County’s “diverse economy, sizable and diverse property tax base, strong financial management and low-to-moderate debt.”
Over several decades, the Board of County Supervisors has maintained stringent control of the County’s annual and five-year budgets and the Capital Improvement Program resulting in balanced five-year budgets and six-year Capital Improvement Programs, strong revenue forecasting, growing reserves and services that are affordable for County residents.
Chairman Stewart stated, “The confidence that the three major ratings agencies showed in reaffirming Prince William County’s AAA rating is further proof of our Board’s strong fiscally conservative management and highlights the vibrancy of our local economy. Our AAA status will allow us to continue making investments in the community at a tremendous savings to Prince William County taxpayers.”
