HomeMy Public PortalAboutTOL PR 2018-04-03 Moody's Affirms Aaa Bond Rating
Town of Leesburg
News Release
For Immediate Release
April 3, 2018
Media Contact:
Betsy Arnett, Public Information Officer
barnett@leesburgva.gov 703-771-2734
Moody’s Affirms Town of Leesburg’s Aaa Bond Rating
Leesburg, VA (April 3, 2018) – Town of Leesburg officials received notification today that
Moody’s released their Credit Outlook Annual Report for Leesburg as Aaa Stable. Aaa is
Moody’s highest rating. The “stable” outlook indicates that they do not have any material
concerns about the Town’s financial outlook.
Key drivers in the Aaa rating include “a very healthy financial position, a very strong wealth and
income profile, and a substantial tax base,” in addition to the the Town’s small debt burden.
“This report was Moody’s first update for Leesburg since upgrading the Town to Aaa in 2015,”
explained Clark Case, Leesburg’s Director of Finance and Administrative Services. “Moody’s was
the last of the major rating agencies to increase us to Triple A. When they raised our rating,
Moody’s indicated they would continue to monitor us. Obviously, we are very pleased that their
outlook is so positive, reflecting our strong financial management and adherence to our fiscal
policies.”
# # #