Arlington's Triple-Aaa Bond Rating Reaffirmed for 2024

Published on June 12, 2024

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For the 24th year in a row, all three credit ratings agencies have reaffirmed Arlington County's debt ratings of Aaa/AAA/AAA -— the highest possible rating. Arlington is one of just 55 counties in the United States, and one of twelve in Virginia, to receive this designation. 

“For more than two decades, Arlington County’s focus on financial prudence, stability, and resiliency has been recognized with the top bond ratings,” said Arlington County Manager Mark Schwartz. “These ratings allow us to continue financing and refinancing capital projects at the lowest possible cost—directly benefitting the entire Arlington community.” 

Moody’s noted “the county's financial position is sound and stable, supported by proactive management and formal policies.” 

Fitch Rating’s highlighted Arlington County’s “financial resilience, demonstrated by solid reserve maintenance bolstered by a high midrange level of budgetary flexibility, strong demographic and economic strength metrics and a strong long-term liability burden.” 

Standard & Poor’s noted the “the ratings reflect our opinion of the county's demonstrated history of balanced financial results that we expect to continue over the long term, supported by an affluent, resilient, and growing property tax base.” 

Moody's issued their rating May 24; Fitch Ratings and Standard & Poor's issued their ratings May 31. 

The Aaa/AAA/AAA rating ensures the County will secure low interest rates when it sells $93,155,000 in Series 2024 General Obligation (GO) Public Improvement Bonds on June 18. The proceeds from that series 2024 bond sale will be used to fund various county and schools public improvement projects, including flood mitigation, energy efficiency and resiliency, community infrastructure, and more. Learn more about how the County uses bonds.