Winchester’s AAA bond rating reaffirmed

Published on October 11, 2024

WINCHESTER, Va – S&P Global has reaffirmed the City of Winchester’s AAA bond rating. This highest possible rating is only held by 15 cities in Virginia and 462 nationally, and the City has held this rating since 2013.

This prestigious rating is a testament to Winchester’s robust financial position, sound management practices, and overall economic health. With a AAA bond rating, the City has stronger borrowing power and access to the lowest possible interest rates to fund upcoming capital projects, saving taxpayer money.

S&P Global noted, “We expect the City’s economy will likely remain stable or improve during the two-year outlook due to ongoing redevelopment projects and consistent economic activity.”

According to Katie Pifer, the City’s Financial Advisor from PFM, the City achieved this rating due to “an incredibly dedicated and prudent management team prioritizing careful financial planning, adherence to financial policies, and focus on the City’s long-term financial health.”

S&P Global praised the City for its strong budgeting track record, long-term financial planning for operations and capital projects, growing reserves, manageable debt burden, and history of paying for capital projects as they are implemented.   

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