Town of Herndon Receives Aaa Rating
Moody’s Investors Service has moved the rating outlook to stable and affirmed the Aaa rating on four states and 37 local governments, including the Town of Herndon. This follows the move to a stable outlook on the federal government’s Aaa rating, which occurred on July 18.
In a news release, Moody’s indicated that certain Aaa-rated municipal issuers had been revised to negative back in 2011, to reflect their close economic, financial and capital markets linkages to the federal government. The return to a stable outlook on the US Government rating reduces the risk exposure for these local governments as well.
The Aaa ratings of the governments of the Commonwealth of Virginia and Fairfax County were also affirmed by Moody’s.
“Careful financial management of taxpayers’ money has always been a hallmark of town operations,” said Mayor Lisa Merkel. “It is gratifying to see this affirmation by Moody’s, and encouraging to see their increased confidence in our county, state and federal governments as well.”
Correction
In the July 10-16 Herndon Connection, the article titled “W&OD Trail Lighting Proposed” mentioned an open comment period about the project. That information is incorrect, the town solicited for comments last year, and submitted the grant application last year. They have received a verbal confirmation that they will receive the grant.