Stafford’s Triple AAA Bond Ratings Affirmed by Standard & Poor’s and Moody’s

Stafford County has announced that two top credit rating agencies, Standard & Poor's and Moody's Investors Service, have recently reaffirmed its AAA bond rating. This comes as Stafford prepares to issue $44.38 million in bonds to support school construction. The county holds a AAA rating-the highest possible-from all three major agencies: Standard & Poor's, Moody's, and Fitch Ratings. This high rating highlights Stafford's strong financial health and smart debt management, which help reduce borrowing costs.

"Achieving and maintaining a AAA rating shows that Stafford County is managing its budget and debt responsibly," said Board of Supervisors Chair Meg Bohmke. "Bonding allows us to spread the cost of major projects over many years so that both current and future residents share the expense."

Strong credit ratings like AAA help lower the interest rates on the county's debt, saving taxpayers money. Standard & Poor's attributed its rating to Stafford's growing local economy spurred by manageable fixed costs, forward-looking and comprehensive management practices and distribution and data center construction projects, which help maintain balanced budgets and healthy reserves. Moody's similarly highlighted Stafford's solid financial position, strong reserves, and flexible budget management.

"As stewards of taxpayer dollars, we are committed to sound financial practices," said County Administrator Bill Ashton. "The savings from our strong ratings allow us to do more for the county, and we remain committed to sound financial practices."

Whenever a locality borrows funds, credit agencies like Moody's, Standard & Poor's, and Fitch review its financial strength and ability to repay debt. A AAA bond rating reflects high confidence in Stafford's financial management and future stability.