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Stafford remains among top counties n the nation with reaffirmation of Aaa bond status

From Stafford County:

Stafford County remains among an elite group of counties across the United States with triple AAA bond ratings as Moody’s Investors Service reaffirmed its Aaa bond rating recently. As of January 2022, 49 counties and 31 cities across the nation have a AAA bond rating from all three major rating agencies – Moody’s, Fitch Ratings and Standard & Poor’s. Moody’s Investors Service initially gave Stafford an Aaa rating in 2018, citing Stafford’s healthy financial position as well as its emphasis on strategically planning for the future, reaffirming the rating each year since. Stafford previously received AAA bond ratings from Fitch Ratings in October 2016 and Standard & Poor’s in July 2015, both of which the County has maintained.

“Maintaining triple AAA bond ratings tells us we are being successful with our financial planning,” said Chairman of the Board of Supervisors Crystal Vanuch, Rock Hill District. “The most important aspect of these ratings is that we are saving our residents millions in debt as our healthy finances allow us to borrow at lower interest rates.”

Moody’s Investors Service affirmed its 2018 review of Stafford’s credit strengths and challenges, debts and obligations. Moody’s praised Stafford County on being “positioned favorably to maintain its strong financial position with sound reserve levels, strong financial management and ample financial flexibility.”

“While Stafford prepares an annual budget every year, we are simultaneously working from a five-year financial plan. This affirmation from Moody’s shows us that our short-term and long-term financial planning are on target,” said Stafford County Administrator Randal Vosburg. “In the end, maintaining three AAA bond ratings is tangible proof that we are good stewards of taxpayer funds.”

A  AAA bond rating indicates a high confidence that a locality can meet its obligations today and in the future. More importantly, this rating allows localities to borrow money for essential public facilities at a lower interest rate, saving taxpayers money. To view the rating affirmation, visit: https://www.moodys.com/research/Moodys-affirms-1104-US-cities-and-counties-issuer-and-debt–PR_907942731.

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