Prince William County has maintained, for the 13th year in a row, its AAA bond rating from the three major credit rating agencies. This is the highest rating an entity can get.
“This reflects the continuous efforts of the Board and all the county staff who focus on prudent and responsible administration of public resources,” County Executive Chris Shorter said. “Prince William County is a growing, dynamic community, which continues to attract a high-quality workforce and significant capital investment. I really appreciate all of the work that has gone into the long-term planning and governance that have helped to maintain fiscal discipline over the years, resulting in this prestigious distinction as a AAA/Aaa jurisdiction.”
According to Moody’s, Fitch Ratings and S&P Global, Prince William County can maintain its bond rating, which ensures the county can borrow money at lower interest rates. This also signals the county is in a stable financial condition.
The county first received this designation in 2011, and has been able to maintain the rating since then. The rating agencies, in their report, stated the growing and diversifying tax base was an important factor in maintaining the designation.
“Prince William County’s rating reflects increasing economic strength likely to lead to material revenue growth, a longstanding commitment to financial balance underpinned by robust formal policies and practices and consistent financial performance,” S&P Global stated.
Prince William is one of only 12 localities in Virginia that have received this rating in 2024. The others in Virginia include Arlington, the City of Alexandria, Fairfax County, Fauquier County and more.
The lowest rating an entity can receive is a C or D, depending on the agency issuing the rating. These ratings, according to Investopedia, help investors determine the riskiness associated with investing in bonds issued by a company, government or a government agency.
