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.