CHESTERFIELD COUNTY, VA— International ratings agency Standard and Poor’s has affirmed the Chesterfield County Utilities Department’s AAA bond rating. Chesterfield County Utilities is one of only a handful of water and wastewater utilities in the nation to have achieved AAA ratings on its revenue bonds from each of the three top rating services, Fitch Ratings, Moody's Investors Services and Standard & Poor's.
This highest of bond ratings recognizes Chesterfield County Utilities’ leadership and numerous financial achievements. Standard and Poor’s report specifically noted the department’s affordable rates and historically solid financial position as a reflection for this rating.
“Having our AAA rating affirmed by Fitch Ratings last year, along with this AAA affirmation from Standard and Poor’s, substantiates how financially stable our Utilities Department is. This achievement is particularly noteworthy during this protracted slow economy,” said Roy E. Covington, P.E., director of the Chesterfield County Utilities Department. “I want to thank the Chesterfield County Board of Supervisors, County Administrator James Stegmaier and Deputy County Administrator Bill Dupler for their support in our efforts to maintain strong financial operations. I am very proud of this organization and grateful for the support of all of the utility employees who contribute to our success.”
For more information, contact Courtney Battista at 804-748-1876.