By Martin Davis
EDITOR-IN-CHIEF
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For the third consecutive year, Spotsylvania County has earned a coveted Triple-A credit rating from all three major rating agencies: Moody’s Investors Service, Standard & Poor’s, and Fitch Ratings.
Fitch Ratings issued on September 9 at AAA rating for the county’s $58,140,000 general obligation (GO) public improvement bonds, series 2025, and affirmed the county’s other AAA ratings.
On September 10, Standard and Poor’s also rated the 2025 series GO Bond as AAA, and also “affirmed its 'AAA' rating on the county’s existing GO debt.”
According to the press release issued by the county, “This marks the third consecutive year the county has achieved Triple-A ratings across the board, placing Spotsylvania among a select group of only 56 counties nationwide—less than 1.8% of all U.S. counties—to hold this distinction.”
PFM financial advisors compiles a list of counties that have AAA ratings. In a call with the Advance, Randy Bauer of PFM said that 13 of the 56 counties on that list are in Virginia, including Stafford County.
Triple-A bond ratings mean lower interest rates on borrowed money. “Last year’s bond issuance is estimated to have saved Spotsylvania taxpayers $3.4 million in future debt service,” the release noted. “Similar savings are expected with the upcoming $58.1 million Series 2025 General Obligation Public Improvement Bonds, set for sale on September 18.”
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