# Rating Agencies Affirm Virginia Bond Ratings

Fitch Ratings, Moody’s Ratings, and S&P Global Ratings affirmed Virginia’s AAA/Aaa/AAA general-obligation bond ratings and assigned Stable Outlooks to the Commonwealth’s general-obligation and appropriation-backed bonds. The ratings may help Virginia borrow at lower cost and preserve financial flexibility for future state-funded programs, but the release identifies no specific procurement, contract, solicitation, or funding allocation for contractors to pursue.

- The ratings provide fiscal context for procurement planning, but do not represent an announced increase in agency budgets or a new contracting opportunity.
- Contractors should not treat the ratings announcement as confirmation of future awards; the release does not identify programs, agencies, or solicitations receiving funds.
- Virginia officials cite financial flexibility and operating reserves, but no specific procurement actions or funding commitments are stated.

**Jurisdictions:** sled
**Published:** October 14, 2026

### Government Entities
- Commonwealth of Virginia
- Office of the Governor of Virginia

### Key Quotes
> Our conservative budgeting has been recognized by the rating agencies and has led to increased financial flexibility and the strengthening of our operating reserves.
> — Mark Sickles, Secretary of Finance

> Investors are willing to accept lower interest rates in exchange for the security they have with the Commonwealth as obligor.
> — David Richardson, State Treasurer

### Sources
- [October Releases](https://www.governor.virginia.gov//newsroom/news-releases/2026/october-releases/name-1124724-en.html) - VA