Dated April 11, 2007, the bonds will mature serially from Jan. 1, 2008-2027. Public Resources Advisory Group of New York, NY serves as the county's financial advisor. Simultaneously, Fitch also affirms the 'AAA' rating on the County's $380 million of outstanding GO bonds and the 'AA+' on the County's $63 million of outstanding certificates of participation (COPs). The Rating Outlook is Stable.
The 'AAA' rating reflects the County's excellent financial position, strong economic growth, and low-to-moderate debt burden that is rapidly retired. The County is an integral part of the Commonwealth of VA's capital region, providing a highly skilled labor force to fill not only government and professional services jobs in neighboring Richmond, VA, but also for its own diverse and growing employment base. Anticipated growth appears manageable given moderating population and school enrollment and the County's comprehensive financial forecasting and capital planning.
