Governor Kaine Announces Bond Sales Projected to Save Virginia $46 Million in Debt Payments

Press Release

-- Top bond rating agencies reaffirm coveted Triple-A rating for Virginia --

Governor Timothy M. Kaine today highlighted a number of bond sales anticipated to save Virginia $46 million in debt service payments. The announcement comes on the heels of the recent reaffirmation by the nation's top bond rating agencies of the Commonwealth's triple-A general obligation bond rating. Virginia is one of only 7 states nationwide to hold the Moody's, Standard and Poor's, and Fitch Triple-A rating, the highest rating category offered by each firm.

"The reaffirmation of our Triple-A bond rating during these challenging times for the economy is the latest evidence of Virginia's exceptional fiscal management," Governor Kaine said. "By taking advantage of low rates and incorporating the 'Build America Bonds' created by the American Recovery and Reinvestment Act, these bond sales offer significant savings that will benefit Virginians for years to come."

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