Virginia Gov. Bob McDonnell, along with a convoy of state officials, hit the road Tuesday, heading to New York to meet with the bond rating agencies S&P, Fitch and Moody’s.
Virginia has long boasted a coveted AAA bond rating, and McDonnell told the Free Lance-Star recently that he has no reason to believe the rating is in danger.
The governor has proposed issuing about $3 billion in bonds to boost Virginia’s transportation infrastructure, most of which had already been approved in a 2007 transportation bill. Some Democrats have criticized the plan, though, arguing that it relies too heavily on borrowed monies.
State legislators also along for the NYC trip include Senate Finance Committee Chairman Charles Colgan, D-Prince William; Sen. Edward Houck, D-Spotsylvania; House Appropriations Committee Chairman Lacey Putney, I-Bedford; and House Majority Leader Kirkland Cox, R-Colonial Heights.
Finance Secretary Richard Brown, Senior Economic Advisor Bob Sledd and Treasurer Manju Ganeriwala also made the trek.