Moody’s Calls City of Fairfax Aaa Credit Rating ‘Highest Quality,’ Exceeds Typical U.S. City
Moody’s Investors Service has reaffirmed the city’s Aaa credit rating, stating, “Fairfax’s credit position is of the highest quality,” and its Aaa rating is “well above the median rating” of Aa3 for U.S. cities.
Moody’s called the city’s economy and tax base “exceptionally healthy,” noting that the city’s full value (tax base) per capita is much stronger than the U.S. median, the city’s median family income is nearly twice the U.S. level, and the city’s total full value not only exceeds other Moody’s-rated cities nationwide, but also increased in the last three years. Economic growth continues to improve, Moody’s noted, and Virginia “remains a desirable place to do business.”
Moody’s, which ranks the creditworthiness of borrowers using a standardized ratings scale, upgraded the city’s rating to Aaa in 2010, during the national recession, and the rating was reaffirmed in 2013. Information: 703-385-7872.