City of Alexandria, VA
General Obligation Bonds
The City issues General Obligation Bonds to finance the City and School Capital Improvement Program, which is passed as part of the budget process each year. Bond issuances must be approved by City Council.
General Obligation Bond Issuances
City of Alexandria, VA General Obligation Bonds, Series 2012B: $76.82 million and General Obligation Refunding Bonds, Series 2012C: $17.34 million
City of Alexandria, VA General Obligation Refunding Bonds, Series 2012A: $66.5 million
City of Alexandria, VA General Obligation Capital Improvement Bonds Series, 2011: $69.95 million
City of Alexandria, VA General Obligation Capital Improvement Bonds, Series 2010: $72.3 million
City of Alexandria, VA General Obligation Capital Improvement Bonds, Series 2009A and 2009B: $79.7 million
City of Alexandria, VA General Obligation Capital Improvement Bonds Series, 2008A and 2008B: $63 million
The City's Bond Rating
Since 1992, the City's bonds have been rated AAA/Aaa by Standard and Poor's and Moody's Investors Service, the two primary rating agencies. The City' s AAA/Aaa credit rating and sound fiscal policies result in a favorable interest rate on the sale of its bonds, which saves the City considerable money over the 20-year repayment cycle.
In 2011, in response to actions at the federal level, including an impasse in Congress over the national debt ceiling and deficit, Moody's assigned a "negative outlook" to the bond ratings for the City of Alexandria and those of six other Northern Virginia jurisdictions due to these jurisdictions' indirect and direct economic and financial ties to the federal government. This "negative outlook" has been maintained on the City's Aaa bond rating since then; however, it's important to note that this rating action was based on the role federal employment and procurement spending play in the Washington– Arlington–Alexandria, DC–VA–MD–WV Metropolitan Statistical Area economy as a whole and does not reflect upon the economic or fiscal stability of the Northern Virginia jurisdictions in general or the City of Alexandria specifically.
Standard and Poor's has maintained the City's AAA bond rating.
City Bond Issuance Process