City Maintains Top Bond Ratings

The City of Alexandria has maintained top grades on its bond ratings from the two major bond-rating agencies – Standard & Poor’s and Moody’s Investors Service.

The duo reaffirmed the city’s ratings of AAA and Aaa, which Alexandria has enjoyed since 1992. 

However, Moody's maintained its negative outlook on Alexandria's ‘Aaa’ rating, due to the city’s “indirect linkages to the weakened credit profile of the U.S. government,” according to a city news release.

Private independent rating services provide these evaluations of a bond issuer’s financial strength, or its ability to pay a bond’s principal and interest in a timely manner.

In reaffirming the city’s bond rating, Moody’s cited Alexandria’s “very conservative debt issuance guidelines," and said the city’s “financial position will continue to remain healthy in the medium term due to strong financial management and conservative budgeting."

S&P also assigned a stable outlook to Alexandria’s series 2013 general obligation (GO) capital improvement bonds and affirmed its ‘AAA’ rating, with a stable outlook, on the city's existing GO debt.