Standard & Poor's Ratings Services said it raised its issuer credit rating on Rockingham County, Va., one notch to AAA from AA-plus.
The outlook is stable.
The upgrade reflects Standard & Poor's opinion of the county's strong and consistent financial performance and its formalization of a number of financial policies and practices, including reserve and debt management policies.
"What we consider the county's strong and steady local economy and good wealth and income are stabilizing rating factors," said Standard & Poor's credit analyst Timothy Barrett. "Therefore, we do not expect to change the rating within the outlook's two-year period."
