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Summary: Fairfax County, Virginia; Appropriations; General Obligation; Moral Obligation; Note Dec 11

Description:
Abstract
Standard & Poor's Ratings Services assigned its 'AAA' long-term rating and stable outlook to Fairfax County, Va.'s series 2012A general obligation (GO) public improvement bonds and series 2012B GO public improvement refunding bonds and affirmed its 'AAA' long-term rating, with a stable outlook, on the county's parity GO debt. The rating reflects our assessment of the county's: Strong, deep, and affluent economy, which serves as a principal anchor for the greater Washington region; Substantial property tax base and, what we consider, very strong wealth and income; Excellent financial management and, what we view as, stable finances; and Moderate overall debt. The county's full-faith-and-credit GO pledge secures the bonds. Officials intend to use bond proceeds to finance school, transportation, and parks...

Companies mentioned in this report are:
- Fairfax Cnty
- Fairfax Cnty Redev & Hsg Auth
- Fairfax Cnty Econ Dev Auth

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
 
Companies Mentioned
- Fairfax Cnty
- Fairfax Cnty Redev & Hsg Auth
- Fairfax Cnty Econ Dev Auth
 
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Summary: Fairfax County, Virginia; Appropriations; General Obligation; Moral Obligation; Note Dec 11

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