CBS / AP
May 6, 2013
Charlottesville has again received the highest bond rating of “AAA” from Standard & Poor's Rating Services, and “Aaa” from Moody's Investor Services.
The higher ratings give Charlottesville stronger borrowing power, as well as lower interest rates.
During a review process, the agencies praised the City for its management, low debt, and fiscal policies.
"We are proud to be the only city, and just one of five localities in the state of Virginia to receive AAA/Aaa-stable ratings from Standard & Poor's and Moody's," said City Manager Maurice Jones. "The AAA/Aaa ratings allow the City to borrow money at a lower interest rate which in turn saves taxpayers money on much needed capital improvements."
Moody's has rated Charlottesville “Aaa” since 1973 and Standard & Poor's has rated “AAA” since 1964.
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