Press Release: Fitch Rates Virginia Public Building Authority's $799MM Public Facil Rev Bonds 'AA+'; Outlook Stable

The following is a press release from Fitch Ratings: Fitch Ratings-San Francisco-08 October 2026: Fitch Ratings has assigned a 'AA+' rating to the following Public Facilities Revenue Bonds to be issued by the Virginia Public Building Authority (VPBA): --$478.615 million, series 2026A; --$180.405 million, series 2026B; --$89.420 million, series 2026C (AMT); --$50.155 million, series 2026D (federally taxable). Fitch also affirmed the commonwealth's 'AAA' Long-Term Issuer Default Rating (IDR), the 'AAA' rating on its general obligation (GO) bonds, and the 'AA+' ratings on its various appropriation-backed securities and other debt directly linked to the IDR. Details appear at the end of this press release. The bonds are expected to be sold competitively on or around Oct. 21, 2026. The Rating Outlook is Stable. The 'AA+' VPBA bond rating, one notch below the Commonwealth of Virginia's 'AAA' IDR, reflects the slightly higher degree of optionality associated with availability of appropriations.