Stafford County has received its third AAA bond rating since 2015.
The latest top credit rating came last week from Moody’s Investors Service, which cited Stafford’s healthy financial position and emphasis on “strategic planning for the future,” according to a county press release. Stafford previously received a bond rating of Aa1 from Moody’s, the agency’s second-highest score.
The county received its other AAA bond ratings from Standard and Poor’s in July 2015 and Fitch Ratings in October 2016.
Localities with higher ratings can borrow money at lower interest rates.
“Gaining three AAA bond ratings is the result of a lot of hard work by both current and former members of the Board of Supervisors as well as a host of county staff,” Supervisors Chairwoman Meg Bohmke said in a news release. “As our county continues to deal with the challenges of growth, we must reaffirm our commitment to long-range planning to successfully position our county for the future.”
County Administrator Tom Foley stated that the rating reflects the county’s year-round financial planning. “In the end, gaining three AAA bond ratings is tangible proof that we are good stewards of taxpayer funds,” he said.