The Fairfax County government’s credit-worthiness has been affirmed by the nation’s major bond-rating houses, which again rated the municipality’s general-obligation debt as AAA-worthy.
Fairfax is one of just 49 counties nationally that have top bond ratings from Moody’s, Standard and Poor’s and Fitch Ratings.
The ratings were affirmed in the lead-up to a sale of $300 million in government debt, most of it ($180 million) for schools but with other funding for transportation, public safety, parks, libraries and human services.
Selling the bonds was approved by voters in referendums from 2012 to 2022.
Fairfax has held AAA ratings from Moody’s since 1975, from Standard and Poor’s since 1978 and from Fitch since 1997. County officials estimate the high ratings have enabled the government to shave $1 billion off the cost of its borrowing in recent decades.