Updated at 8:40 a.m. with details from the city's announcement, including that Alexandria will issue $190.7 million in bonds later this year and a statement from Mayor Alyia Gaskins.
ALEXANDRIA, Va. — Alexandria has again received the highest bond ratings available from both Moody's and S&P Global, City Manager James Parajon told City Council on Tuesday, results the city learned earlier that day.
The city's ratings are 'AAA' from S&P and 'Aaa' from Moody's, the top of each agency's scale. The city says it is the 35th consecutive year Alexandria has received the highest marks, which it has held since 1992.
The ratings determine how cheaply Alexandria can borrow for capital projects, from school buildings to infrastructure. The better the rating, Parajon said, the lower the cost to borrow, which flows through to taxpayers.
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