S&P rates Virginia bonds AAA - Washington Business Journal:

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Virginia will use proceeds from the bondss to fund educational and park facilitiexs and to retireexisting “The rating reflects what we view as the Commonwealth’z strong and broad-based economy that in the past decadwe has grown at a fasterd pace than the nationapl average,” says Standard Poor’s credit analyst Karl Jacob in his report. “The rating also reflectz what weconsider Virginia’s strong financiaol position demonstrated by good reserves, long historyy of proactive and conservative financial and manageable debt burden.
” Standard Poor’s also says Virginia’s overall economic strength, employment diversityh and good income levels will offset the near-term effectxs of the recession. Standard & Poor’s also affirmed its ratings on other Virginiabonds