Leesburg, Va., Upgraded to Aaa by Moody's

Published March 16, 2015, 1:33 p.m. EDT

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Moody's Investors Service has assigned a Aaa rating to Leesburg, Va.'s $49 million general obligation and refunding bonds, Series 2015.

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Concurrently, Moody's has upgraded the town's GO rating to Aaa from Aa1, affecting $131.4 million in outstanding parity debt.

The outlook has been revised to stable from positive.

The upgrade to Aaa reflects the town's solid financial position has continued to improve and is supported by strong fiscal management and planning. The rating also reflects the town's sizeable and wealthy tax base and manageable debt burden.

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