Arlington maintained its prime Aaa investment rating from Moody’s, but the firm argued that the county’s close connection with the federal government makes the future of its finances a bit uncertain.
“Today’s actions are based on an expanded evaluation of the exposure each municipality has to the U.S. government, including economic sensitivity to federal spending reductions, dependence on federal transfers and exposure to capital markets disruptions,” Moody’s Managing Director Naomi Richman said in a press release. “Issuers with outlooks that remain negative are viewed as having greater exposure to potential cuts in federal employment and federal spending.”
Arlington isn’t the only Northern Virginia locale to receive a negative outlook. Alexandria, as well as Fairfax, Prince William and Loudoun counties, have all been given negative outlooks due to the area’s “linkage with the U.S. government.”
“Arlington remains in a strong financial and economic position,” County Board Vice Chair Mary Hynes said in a statement, in response to the Moody’s decision. “During the bottom of the economic downturn, the County demonstrated its resilience and diversity. Our key economic indicators outperformed most in the region and the nation. Most recently, despite the threat of federal government budget reductions, private sector investment in the County has increased and housing values have remained stable.”
Hynes noted that the county maintains a sizable reserve fund as part of its budget.
“Even in the most difficult times, Arlington has remained committed to funding our reserves, including action this month to increase the County’s operating reserve to 5 percent of our budget,” she said.
The county is expected to brush up against one of its self-imposed debt limits in financial year 2013. Still, officials say they’re following the bond market closely.
“The County is not currently in the market with any bond issues and has no plans to go to market until mid-2012,” Arlington said in a press release. “The County last sold bonds in June 2011, with very favorable interest rates and market reception. Any downgrade of the County’s credit rating could result in higher interest rates on future bond issues. The County and its financial advisors are monitoring the situation and market reaction closely.”
For Five Coffee Roasters’ Rosslyn location was already bustling with activity just hours after opening its doors for the first time on Friday. “I’m so excited!” customer Laura Durie exclaimed…
CoStar May Sell New HQ — “Andy Florance, the real estate data giant’s CEO, told analysts Tuesday that CoStar is likely to sell Rosslyn’s Central Place tower, but to remain…
Take a tour of the Courthouse neighborhood and explore two local favorites of Sallie Seiy, your guide in the latest Neighborhood Spotlight.
Good Friday evening, Arlington. Let’s take a look back at today’s stories and a look forward to tomorrow’s event calendar. 🕗 News recap The following articles were published earlier today…
Children’s Weekday Program (CWP) is a non-profit preschool for children 16 months and older. Rooted in a play-based philosophy, we focus on developing a love of learning and exploration, cooperation, empathy, and independence.
Located in North Arlington at 2666 Military Road, CWP offers a flexible parents’ day out and preschool program with options to extend care both before and after school daily. We offer a supportive and inclusive school community for children and parents alike and welcome all families to join our school!
Our caring and experienced educators create opportunities for children to play, learn, and grow in a nurturing environment of child-centered and developmentally appropriate experiences–including enrichment programming such as science and movement.
CWP has been an integral part of the community for over 50 years and last year was recognized by Northern Virginia Magazine for the fourth time as the Best Preschool.
The Potomac Roasting Company is a local micro-roaster specializing in artisan coffee. We precision roast high-quality specialty beans sourced from small farms in Latin America that are owned and operated by women. Your coffee will be roasted the way you want it and delivered fresh.
As two former Peace Corps volunteers who served in Guatemala, we founded Potomac Roasting to pursue our passion for great coffee and purpose-driven work. In addition to ethically sourcing our beans, we also donate a portion of our profits to Laila’s Legacy Animal Rescue, a DC-based nonprofit that finds homes for homeless dogs and cats.
Our current roasts come from prime coffee-producing regions of Colombia, Costa Rica, Guatemala, and Peru. We will be adding new roasts soon. If you are local, there’s a good chance we can deliver to your door. Look for us at local farmers’ markets beginning this spring. In the meantime, check us out now for better coffee and good karma in a cup. You can use the code Community and save 10%.
Whenever we feel indecisive, it’s usually because different parts of ourselves see things differently and are motivated by different priorities and concerns. In fact, it’s usually the friction between these different “camps” that makes us feel stuck.
We can mediate