Jeff Branscome writes about Spotsylvania County.
Spotsylvania’s bond rating is upgraded
Spotsylvania County announced today that Fitch Ratings upgraded its bond rating from AA to AA-plus.
The county maintained its strong bond ratings with the two other major crediting rating agencies, Moody’s and Standard & Poor’s.
According to a county press release, Fitch wrote: “The upgrade reflects the county’s strong and improving financial position as well as its increasing diversification of a stable economy.”
Spotsylvania Supervisor Paul Trampe said in a statement that it’s “especially gratifying that Fitch recognized the increasing diversity of our economy.”
“This illustrates the continued importance of branching out beyond our strong retail sector,” he said.
County Administrator Doug Barnes said in a statement that he looks forward to the county eventually receiving the highest-possible AAA bond rating from each of the agencies.