Fairfax keeps top financial rating

Triple-A is the best rating a government that issues municipal bonds can receive. And Fairfax County has received it, again.

That means the county can sell its bonds at a very low interest rate and that means saving millions of tax dollars. That rate was 2.66 percent for bonds that were sold to Citigroup Global Markets last month.

Those bonds generated $251.8 million and that cash is earmarked for multiple projects, which were approved by Fairfax County voters between 2012 and 2016.

  • Schools: $155 million
  • Transportation Improvements and Facilities: $45.8 million
  • Parks and Parks Facilities: $23 million
  • Storm Drainage Facilities $10 million
  • Public Safety: $8 million
  • Human Services: $5 million
  • Libraries: $5 million

The Triple-A rating was continued by all three national rating agencies: Standard & Poor’s, Fitch Ratings and Moody’s Investors Service.

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About the Author

Ed Tobias
Ed Tobias brings more than four decades of reporting and news management experience to his work at FairfaxNews. Tobias managed news coverage for Associated Press Radio for over twenty years.  This included coverage of the 9/11 attacks, the Iraq War, Hurricane Katrina, the death of Princess Diana, the Challenger and Columbia shuttle disasters and national election primaries, conventions and campaigns.  He was part of the team that built AP’s on-line video operation. Prior to joining AP, Tobias was News Director at all-news WTOP in Washington, D.C. He has won two Ohio State Awards for his reporting and producing and he led coverage that won an Edward R. Murrow Award.