Standard & Poor’s has raised its long-term underlying rating on Herndon’s general obligation debt to AAA from AA-plus based on its strong financial position and good management practices, the agency said. The outlook is stable.
Herndon is located in western Fairfax County along what analysts called the “strong and diverse” Dulles Toll Road Corridor.
The town has strong income and wealth indicators, a very strong financial position, and low overall debt burden, according to a report by Standard & Poor’s analyst Moraa Andima.
The town had $20.5 million of outstanding debt as of June 30, 2009.
