Fitch Rates Spotsylvania County, VA’s $19MM GOs ‘AAA’; Outlook Stable

Fitch Ratings has assigned several 'AAA' rating to Spotsylvania County (the county) in August 2020.

Fitch Ratings – New York – 17 Aug 2020: Fitch Ratings has assigned a ‘AAA’ rating to the following Spotsylvania County (the county), Virginia general obligation (GO) bonds:

–Approximately $19,010,000 general obligation public improvement bonds, series 2020.

The bonds are expected to be sold via competitive sale on or about September 1. Bond proceeds will be used to finance or reimburse the county for costs associated with public school and transportation projects. A portion of the bond proceeds will also be used to refund certain outstanding GO bonds.

In addition, Fitch has affirmed the following ratings:

–Issuer Default Rating (IDR) at ‘AAA’;

–Approximately $205 million outstanding GOs at ‘AAA’;

–Approximately $49 million outstanding Economic Development Authority of Spotsylvania (EDA) public facilities revenue bonds at ‘AA+’.

The Rating Outlook is Stable.

Read the entire article @ www.fitchratings.com