Winchester retains AAA bond rating
S&P Global Ratings once again affirmed the highest possible bond rating for the City of Winchester.
The AAA bond rating reflects an assessment of the credit-worthiness of the city’s debt obligations to investors in the public financial market. The higher the rating, the greater the likelihood of full and timely repayment of the debt which equates to lower risk to investors and lower interest rates to municipalities.
Several factors such as a strong economy and a manageable debt burden helped to reaffirm the rating.
CFO and Director of Support Services Mary Blowe said in a news release that Winchester is especially pleased to maintain the rating this year given the unprecedented financial impact of COVID-19.
The S&P report states that “Winchester enters the national recession triggered by the outbreak if COVID-19 with very strong reserves and well-embedded financial management policies, particularly in the areas of budgeting and planning.”
Winchester has received a triple-A bond rating from S&P since 2013.
For more news from across the Shenandoah Valley, click here.
News_one winchester triple-a bond rating, AAA bond ratng, highest possible bond rating, city of winchester bond rating, credit-worthiness, winchester debt obligations, strong economy, manageable debt burden, S&P Global Ratings, S&P ratings, well-embedded financial policies, planning, Winchester Bond Rating, budgeting