Summary: Fairfax County, Virginia; Appropriations; General Obligation; Moral Obligation; Note Dec 11
- Language: English
- Published: December 2011
- Region: Virginia
Standard & Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to Fairfax County Economic Development Agency, Va.'s series 2011 transportation district improvement revenue bonds, issued for the Silver Line phase I project and supported by Fairfax County, Va. The rating reflects our opinion of: The credit quality of Fairfax County (AAA/Stable), the obligor ultimately securing the bonds through its agreement to levy the special improvements tax pledged as security, as authorized by the District Act; A project agreement that includes a contractual pledge where the Phase I Dulles Rail Transportation Improvement District must annually request the county to levy the special improvements tax at a level sufficient to satisfy the rate covenant in the trust agreement, in addition...
Companies mentioned in this report are: Fairfax Cnty,Fairfax Cnty Econ Dev Auth
Action: New Rating
Action: Outlook: Stable
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