Statement from Mayor Derrick R. Wood

On Dumfries Earning Its First-Ever ‘AA-’ Bond Rating with a Stable Outlook from S&P Global Ratings
October 22, 2025

"This moment marks a turning point in the history of Dumfries. For the first time ever, our Town has been assigned a credit rating — and not just any rating, but a strong ‘AA- Stable Outlook’ from S&P Global Ratings.

That rating speaks volumes. It’s proof that Dumfries has become a model for sound fiscal management, visionary leadership, and steady economic growth. It validates what we’ve been building toward for years — a town that operates with integrity, transparency, and discipline.

We’ve worked hard to earn this. From balanced budgets and clean audits to bold investments in infrastructure and community revitalization, we’ve shown what’s possible when vision meets responsibility. We don’t borrow to patch potholes — we borrow to build the future. Every decision we make is about strengthening Dumfries for the next generation.

This recognition gives us the ability to secure better financing, attract new investors, and move forward confidently on major projects like the waterfront redevelopment and Main Street realignment — projects that will define our future and improve the daily lives of our residents.

And to our community — this achievement belongs to you. Because you believed in our vision, stayed engaged, and trusted the process, Dumfries is now being recognized nationally for the strength we’ve built together.

We’ve come a long way — from being Virginia’s oldest continuously chartered town to becoming one of its most forward-thinking. This first-ever bond rating is more than a financial milestone — it’s a statement of faith in our future."

💬 Making It Plain: What This Means for Our Community

"In simple terms, this rating means our town’s finances are strong — and that’s good news for everyone in Dumfries. It means we can borrow at lower interest rates, saving taxpayers money. It means we can invest more in roads, parks, and community improvements without raising taxes.

This historic rating tells investors and residents alike that Dumfries is stable, trusted, and ready to grow — proof that we’re not just managing the present, we’re building a future that honors our history and invests in the next generation."

— Mayor Derrick R. Wood
Town of Dumfries, Virginia