Central Nova News

The City of Alexandria has been acknowledged by leading credit rating agencies for its financial management. In late September, S&P Global Ratings and Moody’s Investors Service reaffirmed the city's top bond ratings of 'AAA' and 'aaa,' respectively, marking the 32nd consecutive year of receiving these ratings. This achievement enables Alexandria to secure low interest rates.

Mayor Justin Wilson expressed pride in the recognition, stating, “We are very proud that the City has once again been recognized for its strong policies and the culture of prudent long-term planning that governs our financial operations."

S&P Global highlighted Alexandria's "well-embedded, robust policies" and a focus on long-term planning in its credit report. Meanwhile, Moody’s noted the city’s stable outlook is due to "comprehensive fiscal policies" and a likelihood of maintaining a strong financial position thanks to growing revenues and conservative budgeting practices supported by a substantial local economy expected to continue expanding.

Since 1992, Alexandria has consistently received top grades from major bond rating agencies. This consistency aids in keeping interest rates low on bonds issued for funding significant projects. The city plans to issue $116.5 million in tax-exempt general obligation bonds later this year for capital improvements. Key projects include renovating George Mason Elementary School, advancing the Waterfront Improvement Project, initiating renovations at Alexandria City Hall, and making infrastructure improvements for redeveloping West End.

S&P Global Ratings assessed the city’s general obligation bonds as “above the sovereign,” indicating that “the city can maintain better credit characteristics than the U.S. (government) in a stress scenario.”

For disability accommodations or language assistance services, contact information is provided by the city for residents needing support.