Bond/Debt Information

Bonds – 2022 Bond Issuance

Current Bond Rating Summary

Debt Service and the Tax Rate

2022 Rating Agency Reports - General

In July 2022, County representatives met with Fitch, Moody’s and Standard & Poor’s to present current economic and financial information pertaining to Spotsylvania County. The presentation is available here.  

The County’s strong credit ratings were affirmed by each of the three agencies – AAA from Fitch and Standard & Poor’s, and Aa1 from Moody’s.  Below are the full rating reports from each agency:

Fitch
Standard & Poor’s
Moody’s

2022 General Obligation Bond Issuance

On June 14, 2022, the Board of Supervisors approved the issuance of up to $37.5 million in General Obligation (GO) bonds to finance the following projects:

  • Fire equipment replacement;
  • Replacement of Co. 3 (Partlow);
  • Rural road safety improvements;
  • Hood Drive improvements at VA clinic entrance;
  • Rt. 1 improvements at VA clinic entrance; and
  • School technology, bus replacements, and school building capital maintenance.

Then, on August 10, the County sold $31.05 million in GO bonds at an “all in” true interest cost of 2.787%.    

Executive Summary from June 14, 2022 Board of Supervisors Meeting
Resolution Adopted by Board of Supervisors on June 22, 2021


2022 Rating Agency Reports - Water/Sewer System

In September 2022, County representatives met with Fitch, Moody’s and Standard & Poor’s to present current economic and financial information pertaining to Spotsylvania County’s water and sewer system.  The presentation is available here.

The County’s strong credit ratings were affirmed by each of the three agencies - AA+ from Fitch, AA from Standard & Poor's, and Aa2 from Moody's.  Below are the full rating reports from each agency:

Fitch
Moody's
Standard & Poor's