Go To Search
Click to Home
Site Tools

Headline News

Posted on: November 3, 2016

Loudoun County Sells Bonds at Favorable Interest Rate; Triple-A Ratings Reaffirmed

Image of triple-a bond rating graphic
Loudoun County has sold $60.90 million in lease revenue bonds at a favorable interest rate of 2.57 percent. Proceeds from the sale will be used to finance several general government and transportation projects, including:

General Government
  • Acquisition of 742 Miller Drive building in Leesburg
  • Courts Complex Phase 3
  • E-911 Phone System Upgrade
  • Juvenile Detention Center
  • Landfill Reclamation Project
  • Library Management Project
  • Lovettsville Community Center
  • Public Safety Firing Range
Transportation
  • Allder School Road Improvements 
  • Crosstrail Boulevard Segment A2
  • Route 772 Transit Station Connector Bridge
  • Woodgrove High School/Fields Farm Park Road Improvements 

In advance of the sale, the nation’s top bond rating agencies reaffirmed the county’s triple-A rating on its general obligation bonds, and the high AA rating (AA by Fitch and Standard and Poor’s and Aa1 by Moody’s) on its lease revenue bonds. The ratings agencies noted the county’s strong financial management practices and policies, and manageable debt. Loudoun County has held the Aaa rating from Moody’s since 2004, and AAA from Fitch Ratings and Standard & Poor’s since 2005. A high bond rating helps the county get the best possible interest rates to finance capital projects, saving millions of dollars. 

The county’s lease revenue bonds were in strong demand, with six bidders submitting offers. Citigroup Global Markets, Inc. offered the bid with the lowest interest rate which the county accepted. 

More information on Loudoun County finances and its triple-A status is online at www.loudoun.gov/BondRatings.  
Facebook Twitter Google Plus Email

Other News in Headline News

Image of PRCS Logo

PRCS Camp Registration Update

Posted on: March 28, 2017

Loudoun On
Site Tools