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

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Virginia will use proceeds from the bonds to fund educationalp and park facilities and to retireexistingv bonds. “The rating reflects what we view asthe Commonwealth’s strong and broad-based economy that in the past decade has growm at a faster pace than the national says Standard & Poor’s credit analyst Karl Jacobv in his report. “The rating also reflects what weconsidefr Virginia’s strong financial positiojn demonstrated by good reserves, long history of proactive and conservatived financial management, and manageable debt Standard & Poor’s also says Virginia’s overall economicc strength, employment diversity and good incomed levels will offset the near-term effects of the recession.
Standard & Poor’s also affirmecd its “AAA” ratings on other Virginia bondsa outstanding.