City Keeps Its Top-Ranked Bond Ratings

Standard & Poor’s and Moody’s Investors Service have reaffirmed the city's bond ratings of AAA and Aaa, respectively.

Alexandria has maintained these top grades from both major bond rating agencies since 1992.

S&P cited the Alexandria’s “[d]eep, diverse, and strongly performing local economy, which serves as one of the anchors of the greater Washington and Northern Virginia regions,” “strong financial management,” as well as a “low debt burden for debt-to-market value.”

S&P also rated the city’s financial management practices “strong,” which is the highest rating given in the financial management category.

S&P granted the city a “stable” outlook, owing to its “very strong and diverse local economy, strong financial management, and moderate-to-low debt.”

Moody’s Investors Service said the “Aaa rating reflects the city's strong and vibrant tax base, sound and stable financial condition, conservative budgeting and favorable debt profile,” and cited Alexandria’s “large and wealthy tax base with proximity to D.C.,” and a “conservatively managed budget with sound reserves.”

Mayor Bill Euille was pleased: “This positive response from the rating agencies is a reflection of the City’s strong financial management... Regardless of the state of the nation’s economy over the past several years, Alexandria has been able to maintain our longstanding, solid financial reputation, and we are extremely proud of the consistently high bond ratings to affirm it.”