News Flash

* City News Alerts *

Posted on: May 30, 2023

City of Charlottesville receives AAA Bond Rating

AAA Bond Rating

FOR IMMEDIATE RELEASE
May 30, 2023

City of Charlottesville receives AAA Bond Rating


CHARLOTTESVILLE, VA – The City of Charlottesville has again received the highest rating from both S&P Global Ratings and Moody’s Investor Services.


S&P Global Ratings and Moody’s Investor Services have reaffirmed the City of Charlottesville’s AAA/Aaa bond ratings (the highest ratings obtainable). In May 2023, the rating agencies conducted an unbiased and thorough assessment of the City’s credit-worthiness. A government’s bond rating evaluates the City’s ability to repay its debt in full and on time. Bond ratings of AAA/Aaa are attractive to investors because it is a strong indicator of low risk of default which results in the City being able to borrow at the lowest possible interest rate. This means the City can spend more of its money on improving infrastructure and less on interest.

Both rating agencies cited several key factors in assessing the City’s creditworthiness:

  • A strong and growing economy anchored by a stable institutional presence.
  • Strong and comprehensive financial policies and practices.
  • Sound budgetary performance with adequate financial flexibility.
  • Manageable debt burden. 

“The City is honored to have once again received the highest bond ratings possible by both Moody’s and S&P,” said Interim City Manager Michael Rogers. “The ratings reflect the hard work and commitment of staff and City Council to make sure the City’s financial outlook remains strong and stable.”

Moody’s has rated Charlottesville Aaa since 1973 and S&P Global has rated the City AAA since 1964.


Media Contact
David Dillehunt
Deputy Director of Communications & Public Engagement
City of Charlottesville
434-970-3114
dillehunt@charlottesville.gov

Facebook Twitter Email

Other News in * City News Alerts *

Leaf Collection Announcement 23-24

Leaf Collection has Begun

Posted on: November 1, 2023
City Seal Color

Call for Applications!

Posted on: November 1, 2023
Rivanna Waste logo

DRINKING WATER UPDATE

Posted on: September 12, 2023
Charlottesville Parks and Recreation

Tree Planting Planned for November

Posted on: September 1, 2023
Rivanna Waste logo

FREE LOCAL MULCH AT THE IVY MUC

Posted on: August 29, 2023
Logo for Charlottesville Acting on Climate Together

2023 Climate Action Work Plan Posted

Posted on: July 26, 2023
tax time

Taxes Due Monday, June 5, 2023

Posted on: May 30, 2023
Green City Logo

Charlottesville DMV Select Services

Posted on: January 4, 2023