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Posted on: June 1, 2018

Bond Rating Agencies Reaffirm Loudoun’s Triple-A Rating

Triple-A Bond  Rating Graphic

The nation’s top bond rating agencies have again affirmed Loudoun County’s AAA rating on its general obligation bonds, noting the county’s robust economy, the size and diversity of its tax base, growth potential and strong management. Loudoun County has held the Aaa rating from Moody’s since 2004, and AAA from Fitch Ratings and S&P Global since 2005.

  • Fitch said the rating reflects Loudoun’s “exceptionally strong operating performance, supported by solid revenue growth and solid expenditure flexibility.” 
  • Moody’s highlighted Loudoun’s “sizeable and diverse tax base with strong long-term growth potential, above average wealth levels, consistently solid financial performance and a manageable debt burden.”
  • S&P Global highlighted Loudoun’s “very strong economy, budgetary performance and flexibility, and very strong management.”

“As the credit rating agencies have once again affirmed, Loudoun County is one of the best managed and fiscally sound governments in the nation,” said Dulles District Supervisor Matt Letourneau, Chairman of the Board’s Finance, Government Operations and Economic Development Committee. “Loudoun continues to lead the way in job growth, strong budget practices and smart investment.  In particular, the agencies recognized the tremendous opportunities around our Metro stations and the strength of our Metro tax district, which remains highly rated.”

A triple-A rating is important to the county government and taxpayers because it helps the county continue to get the best possible interest rates to finance capital projects, saving millions of dollars. The reaffirmation comes in advance of the county’s upcoming sale of general obligation bonds; the proceeds of which will be used for school and general government projects.

The three ratings agencies also affirmed Loudoun’s AA(plus) and Aa1 ratings on the upcoming sale of bond anticipation notes and taxable lease revenue bonds, as well as outstanding lease revenue bonds and the Transportation Infrastructure Finance and Innovation Act (TIFIA) loan, which goes toward financing the extension of Metro Rail’s Silver Line into Loudoun County.

More information on Loudoun County finances and its triple-A status is online

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