Community » Quick Links

County News

Font Size: + -
Share & Bookmark, Press Enter to show all options, press Tab go to next option
Print

Albemarle County's Aaa/AAA/AAA Credit Rating Reaffirmed

Post Date:05/04/2026 2:55 PM
 As of April 13, 2026, Moody’s Investors Service, S&P Global, and Fitch Ratings have reaffirmed Albemarle County’s Aaa/AAA/AAA issuer credit ratings. Albemarle County is one of fewer than 54 counties in the United States to achieve this designation and one of 13 in Virginia. Albemarle County has maintained this top-tier rating since 2013, a reflection of financial resilience that enables the County to secure lower interest rates when borrowing for capital projects.  

In their ratings, Fitch, Moody’s, S&P cited the County’s strong managerial oversight, well-embedded financial policies, comprehensive capital planning and budgeting, and the stable local economy.  

“The reaffirmation of the County’s bond rating is a testament to the County’s fiscal stewardship. Sound financial policies and practices ensure we have the ability to provide a high quality of life for our community,” explained Albemarle County Chief Financial Officer, Jacob Sumner.  

On April 22, 2026, Albemarle County competitively sold $139.85 million in public facility revenue and refunding bonds. A majority of the proceeds, approximately $114.8 million, will support planned capital projects. The remaining funds will refinance existing debt, including a portion of the 2023 bonds for the Rivanna Futures property.  

Fifth Third Securities, Inc submitted the winning bid with a borrowing rate of 3.63% over 20 years, coming in lower than anticipated. As a result of the refinancing, the County will save approximately $260,000 in debt payments over the next 10 years.  

The County is scheduled to close on the 2026 bond sale on May 13, 2026. 
Return to full list >>