Recently, town and county staff met with representatives from both Moody’s and Standard and Poor’s to review our bond ratings. Board of Supervisor’s Chairman Jim Politis and I had breakfast with one group and lunch with another to review the political climate and our commitment to work together to move both the Town of Blacksburg and Montgomery County forward.

With downgrades from across the country, including the federal government, this is truly good news!

It is a testament to good planning and sound financial management.

Here is the announcement from our Town Manger in his notes to Council today:

Bond Ratings and Bond Refinancing – The Town received notice this week of our bond ratings from both Moody’s and Standard and Poor’s. Both ratings were reaffirmed (Moody’s Aa2 and S&P AA) with a stable outlook. This is great news considering the current state of the economy and the negative outlook that the agencies have placed on the local government bond market as a whole. They were especially impressed with the level of economic activity and investment in Blacksburg, the strong history of following through on economic development plans and the level of cooperation with Virginia Tech. The bond sale will occur next Wednesday, November 9. Links are provided below to the Preliminary Official Statement and the Notice of Sale. The Preliminary Official Statement is a good summary of information about the Town government and you may want to review it.

Link to the Preliminary Official Statement: