Saturday, February 5, 2011

NEWS RELEASE Fitch Ratings Affirms Falls Church City’s Credit Rating of AAA Fitch Ratings affirmed the City of Falls Church bond rating at ‘AAA’ with a rating outlook of Stable, in routine annual surveillance. ‘AAA’ is the agency’s highest rating.

The ‘AAA’ rating reflects the City’s moderately low debt and strong economic indicators such as low 
unemployment rates and a highly educated labor force.  According to Fitch Ratings, the City is strengthening its 
fiscal position through improved financial management and a demonstrated commitment to restoring reserves to 
policy levels.  
“The City has made difficult decisions to reduce spending and raise revenues in response to the large 
shortfalls of the past two years” said City Manager Wyatt Shields.  “To maintain its excellent bond ratings, and 
the benefit of lower interest rates on debt, the City must carry out its fund balance restoration plan and keep 
operating expenses aligned with relatively flat revenues for the foreseeable future.” 
The City currently has $32.8 million of general obligations bonds.