Financial Outlook: County Retains Triple-A Bond Rating, Holds Successful Bond Sale

Graphic that says bonds are a form of long-term borrowing used by many local governments to finance public facilities and infrastructure.

Good news about our financial outlook – Fairfax County retained our Triple-A rating, the highest bond rating available by all three national ratings agencies: Standard & Poor’s, Fitch Ratings and Moody’s Investors Service.

The high bond ratings mean that the county can sell its municipal bonds at a very low interest rate, saving millions for taxpayers, estimated at $815.9 million since 1975. This enables us to use those funds to renovate and build schools and police stations and other critical infrastructure needs.

 

What Does a Triple-A Bond Rating Mean For Us?

The favorable bond ratings enabled us to sell bonds to Citigroup Global Markets Inc. at a low interest rate of 2.66 percent on Jan. 9.

These Series 2018A bonds generated $251.8 million to fund (after costs of issuance) the following project areas:

  • 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

County voters approved these bond projects during elections held from 2012 to 2016.

 Learn More About Our County Budget

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