For the first time in its history, the City of Falls Church has achieved a top AAA bond rating from a major New York-based bond rating agency, in this case Fitch, City Manager Wyatt Shields reported to the F.C. City Council tonight.
Shields said other bond rating agencies have maintained their high AA+ ratings for F.C. Given the City’s ongoing commitment to maintaining its fund balance and debt policies even in the face of tough economic and fiscal times. Shields noted the City’s debt is only 1.2 percent of its total value, which is less than half the national average of 2.8 percent.