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Business Insider

Lindley Estes is a business writer for The Free Lance-Star and This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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Fitch upgrades King George’s bond rating

Fitch Ratings this month upgraded King George County’s bond rating.

Fitch upgraded the county’s general obligation bonds from AA- to AA with a stable outlook.

Fitch cited the county’s “strong fiscal discipline and economic stability as evidenced by the maintenance of high liquidity and reserve levels, prudent investment in capital improvements, and strong economic and employment metrics despite the challenges posed by sequestration.”

Fitch did note that federal budget cuts could negatively affect the regional economy given the reliance on federal spending and employment, but said it considers that unlikely “given the specialization and essentiality of the county’s defense activity to military operations.”