The City of Alexandria has once again received the highest possible bond ratings from leading credit agencies S&P Global Ratings and Moody’s Ratings. This marks the 33rd consecutive year that Alexandria has been awarded ‘AAA’ by S&P and ‘Aaa’ by Moody’s, continuing a record that began in 1992.
According to city officials, these top-tier ratings enable Alexandria to secure low interest rates when issuing bonds, reducing borrowing costs for major infrastructure and community projects. The city plans to issue $105 million in tax-exempt general obligation bonds later this year to support capital improvements such as the renovation of George Mason Elementary School, progress on the Waterfront Improvement Project, and initial renovations at Alexandria City Hall.
Mayor Alyia Gaskins commented on the reaffirmation: “At a time when we are grappling with economic uncertainty, Alexandria’s top ratings are proof that our city is on solid ground. These reaffirmations show that our fiscal responsibility and commitment to community set us apart, and that Alexandria can serve as a model of stability and resilience for the region.”
S&P Global highlighted Alexandria’s financial management practices in its assessment. The agency cited “well-embedded, comprehensive policies that govern budgeting and reporting practices, and a culture of long-term planning, all of which support consistently positive operating results.” It also recognized efforts to address social issues including affordable housing and income and racial inequities. Notably, S&P stated: “we believe the City can maintain better credit characteristics than the U.S. in a stress scenario,” rating it “above the sovereign.” Economic development was also mentioned with reference to “significant ongoing developments that spur continual growth.”
Moody’s praised the city’s approach as well: “financial position is robust and supported by strong formal policies and a long track record of conservative fiscal management.” The agency noted Alexandria’s “diverse and affluent local economy” along with reserves and liquidity backed by adherence to comprehensive fiscal policies.
Residents seeking information in languages other than English can access free interpretation services through LanguageAccess@alexandriava.gov or by calling 703.746.3960.
