Fitch gives AA+ to Virginia Beach bonds

Fitch Ratings said it assigned an AA+ rating to Virginia Beach, Va.'s approximately $52.5 million of general obligation public improvement refunding bonds, series 2008A.

The bonds are scheduled to sell competitively on April 29, and the proceeds will refund G.O. and public improvement bonds, series 1998.

In addition, Fitch said it affirmed the AA+ rating on the city's $609 million of G.O. bonds and the AA- rating on $362.8 million of Virginia Beach Development Authority lease revenue bonds.

The outlook is stable.

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