Standard & Poor's Ratings Services assigned its 'AA' long-term rating, and stable outlook, to Fauquier County, Va.'s series 2010 general obligation (GO) school refunding bonds and affirmed its 'AA' long-term rating and underlying rating (SPUR), with a stable outlook, on the county's existing GO debt. In our opinion, the rating reflects the county's: Primarily residential, and still largely rural, economic base that has demonstrated a growing participation in the expanding and diverse northern Virginia economy and that further benefits from easy access to the Washington metropolitan area; Historically healthy and consistent property tax base growth, which experienced a significant decline after the most recent property revaluation effective for fiscal 2010; Above-average wealth and income indicators and historically low unemployment; Historically...
Companies mentioned in this report are: Fauquier Cnty
Action: New Rating
Action: Outlook: Stable
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