City of Winchester receives AAA bond ratings from two agencies

The City of Winchester has been awarded its first-ever AAA bond rating from Kroll Bond Rating Agency (KBRA) while maintaining its AAA rating from Standard and Poor’s (S&P). These represent the highest possible ratings from both agencies, an extraordinary achievement that reflects the City’s continued financial strength, prudent fiscal management, and growing local economy.  

Winchester is one of only sixteen cities and towns in Virginia to receive a AAA rating from S&P, and among a select group of localities nationwide to hold AAA ratings from more than one agency.  

“Achieving multiple AAA ratings is a testament to the City’s consistent commitment to responsible budgeting, policy discipline, and strategic investment in Winchester’s future,” said Katie Pifer, the City’s Financial Advisor from PFM.  

In its report, KBRA cited the City’s “history of positive operating performances and strong financial reserves, which are expected to remain robust given the conservative financial management policies,” and noted a stable outlook supported by Winchester’s diverse and expanding economy.  

Similarly, the S&P praised the City’s “growing economy, sizable reserves, history of positive finances, and proactive financial practices and policies,” projecting continued stability driven by ongoing redevelopment projects and consistent economic activity.  

These top-tier ratings directly benefit Winchester residents by reducing the cost of borrowing for major projects such as school improvements, public safety facilities, and infrastructure upgrades. Lower borrowing costs mean more City resources can be dedicated to community services, quality-of-life enhancements, and keeping taxes stable.