City News

Press Releases and Announcements

City of Richmond Utility Bond Ratings Reaffirmed by All Three Rating Agencies

Strong Financial Position, Operational Improvements and Proposed Capital Investment Recognized Ahead of Utility Revenue Bond Sale

 

Richmond, VA – The City of Richmond is pleased to announce that it has maintained its Public Utility Revenue Bond ratings across the Country’s three major, independent bond rating agencies. Fitch Ratings, S&P Global and Moody’s Investors Service have reaffirmed the AA, AA and Aa1 ratings, respectively, on the City’s Public Utility Revenue Bonds.

“The utility ratings reaffirm this Administration’s strong financial position and our commitment to investing responsibly in the critical infrastructure residents depend on every day,” said Mayor Danny Avula“They also reflect sound financial management and the operational improvements needed to continue building a resilient and thriving utility system for the future.” 

Chief Administrative Officer Odie Donald II said “We are very pleased that all the rating agencies reaffirmed both the general fund and utility enterprise fund ratings. It is clear that a path to get to AAA for all of our general fund ratings is attainable by continuing increases in our reserve fund levels. If we are to maintain our very strong Moody’s rating, and see S&P and Fitch raise their ratings, then the City must continue the investment and increased capabilities illuminated through our recent path of historic capital investment.”

The Utility Bond Ratings positions the City to access the capital markets at favorable interest rates as DPU advances its water, wastewater and gas system capital program, including the Combined Sewer Overflow program and ongoing system resiliency investments.

“Richmond continues to enjoy very strong credit ratings for both their general and utility enterprise funds,” said David Rose, Financial Advisor to the City. “The general fund sale results were excellent, and we expect nothing less in the coming weeks for the Utility Revenue Bonds. The City clearly has momentum, and the future is very exciting. During the rating agencies’ in-person visits just a few weeks ago, the energy, increased economic development activity and overall positive growth and excitement around town was clearly evident.”
 

Excerpts from each agency’s rationale, and links to their respective releases, are below.

Fitch Ratings: AA

“Richmond serves as the capital for the Commonwealth and a major hub for universities and government-sector employment. The city retains the legal authority to adjust rates as

needed without external oversight. Fitch considers the monthly residential water and sewer bill affordable for around 67% of the service area population, based on Fitch's standard monthly usage of 7,500 gallons for water and 6,000 gallons for sewer.”

 

S&P Global: AA

“Our rating reflects Richmond Department of Public Utilities' (DPU) strong financial position supported by sound financial and operational management practices, alongside continued progress in strengthening system resilience and operations following the backup system failure that led to the loss of water service and boil water advisories for five days in

January 2025. Since the event, management has implemented operational and capital improvements that we believe reduce the likelihood and severity of future disruptions, as evidenced by no service interruptions during the most recent winter season. Recent

operating performance and financial results indicate stability, with year-to-date fiscal 2026 performance tracking ahead of budget based on management-reported results.”

 

Moody’s: Aa1

“The Aa1 rating on the utility system revenue bonds reflects sound debt service coverage

despite recent declines, and liquidity that is expected to strengthen in fiscal 2026 based on year-to-date results. The rating also benefits from strong financial strategy, comprehensive policies, proactive risk management, and long-term planning. The management team is highly experienced and has a track record of budgeting conservatively to support prudent

fiscal practices…The system’s capital needs are substantial, though they will be partially offset by rate increases and strong financial planning.” The Moody's rating analyst has

indicated that this outlook can be amended in as little as 12 months based on the City's future user rate actions. 

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Fitch and S&P assigned “Stable Outlooks” to their ratings. Moody’s, whose Aa1 rating remains one notch above the other two agencies, revised its outlook to “Negative,” indicating it could, in the future, revise its rating to be on par with the other two agencies.


The City has made strong commitments to infrastructure and improving the resilience of DPU’s operations through strong investments that align with management’s long-term improvement strategy. Moody’s reaffirmation of the current rating with a negative outlook acknowledges these historic capital investments, strong management and the challenges with balancing affordability and long-term capital investments required to maintain safe and reliable services. 

In their respective analyses, all three agencies pointed to DPU’s strong financial position, sound management practices, demonstrable progress that has strengthened system resilience following the January 2025 event and the financial framework proposed to

support historic levels of capital reinvestment required over the next five to ten years.

“The rating agencies were clearly pleased that our department has made significant improvements in our operations, including our capital improvement plan and our responses to all recent internal and external recommendations regarding our water system following the water crisis of January 2025,” said Director of Public Utilities Scott Morris, A testament to the work  to date was the outcome of one of the most challenging winters in recent memory – the City utility systems functioned without any major service interruptionThe current proposed budget to City Council includes difficult but needed adjustments to user rates and charges to support record levels of capital investment over the next five to ten years that ensure reliable services continue.”

Officer-Involved Shooting at Apartments on Midlothian Turnpike

At approximately 6:47 p.m., officers were called to an apartment complex located in the 4000 block of Midlothian Turnpike for the report of a shooting in progress.

 

Officers arrived in four minutes and heard gunshots. Officers were directed by onlookers to the third floor of an open-air stairwell where the shots were being fired. Officers climbed the stairs and engaged an adult female, ordering her to drop her weapon. An officer then fired his service weapon and struck the woman.

 

Other responding officers administered first aid but she was pronounced dead at the scene. A firearm was recovered at the scene. There were no other individuals injured at the scene.

 

Major Crimes detectives, RPD command staff, precinct officers, and the forensics unit responded to the scene. As is standard in officer-involved shooting investigations, the one officer who fired his service weapon will be placed on administrative leave. As this is a fatal officer-involved shooting, a critical incident briefing video will be produced and released to the public in approximately two weeks.

 

Anyone with information is asked to call Major Crimes Detective J. Crewell at (804) 646-5324 or Crime Stoppers at (804) 780-1000. The P3 Tips Crime Stoppers app for smartphones may also be used.  All Crime Stoppers methods are anonymous. 

Installation Begins Soon on a New Pedestrian Hybrid Beacon at Hull and East 29th Streets

Posted May 7, 2026

 

 ~ The improvement supports the City’s Vision Zero commitment to safer streets ~

RICHMOND, Va. –   As part of the City’s Vision Zero initiative to eliminate fatal and serious injury crashes, the Richmond Department of Transportation (RDOT) is installing a Pedestrian Hybrid Beacon (PHB) at the intersection of Hull Street and East 29th Street.  Hull Street has long been a challenging street to cross. 

This project provides for the installation of the traffic signal mast arm poles, high visibility crosswalks, pedestrian countdown signals, pedestrian push buttons, and accessible curb ramps for all ages and abilities. The construction begins, weather permitting, in May and is expected to be completed by the end of summer.

“This new hybrid beacon will better protect people walking,” said Richmond Transportation Director, Andy Boenau. “Especially in a neighborhood where many rely on walking and transit access for everyday needs. 

A Pedestrian Hybrid Beacon (PHB) is a traffic control device designed to help people walking and rolling to safely cross higher-speed, multi-lane streets like Hull Street. The beacon head consists of two red lenses above a single yellow lens. The lenses remain “Dark” until a pedestrian pushes the call button to activate the beacon. 

Instructions on How to Use the Pedestrian Hybrid Beacon:

  1. The beacon is “DARK MODE” for motorists until pedestrians/bicyclists push the button to activate it and pedestrians/bicyclists approaching the crosswalk see a steady "Don't Walk" indication.

  2. When pedestrians/bicyclists press the button:

    • Motorists will see a FLASHING YELLOW indication for a few seconds, signaling that the beacon has been activated and motorists should SLOW DOWN and be prepared to STOP

    • Pedestrians/bicyclists will continue to see a "Don't Walk" indication and must wait 

  3. The flashing yellow is followed by a SOLID YELLOW indication

    • Motorists should STOP if able to safely do so

    • Pedestrians/bicyclists will continue to see a "Don't Walk" indication and must continue to wait 

  4. The solid yellow is followed by double SOLID RED indication

    • Motorists are required to come to a complete STOP 

  5. Pedestrians/bicyclists receive a "WALK" indication and, if clear, can begin to cross the road in the marked crosswalk. The double solid red is followed by alternating FLASHING RED indication

    • Motorists are required to STOP, or remain stopped, until pedestrians/bicyclists have finished crossing the street. Drivers may proceed with caution after coming to a stop to ensure that no one else is walking across the street.

  6. Once the person has safely crossed, the beacon goes back to the DARK MODE and drivers may proceed through the crossing at or below the posted speed limit.

During construction, there will be intermittent lane and sidewalk closures. Please give our construction workers extra space and slow down when you see orange cones in the work zones.

This project is funded through Virginia’s Transportation Alternative Program and our partnership with the Central Virginia Transportation Authority (CVTA) and has an estimated construction cost of $440,000.

For more information on Public Works, please visit us online at rva.gov/public-works or email us at [email protected] 

 

 

 

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The City of Richmond Department of Public Works (DPW) is one of only 225 currently accredited public works agencies in the United States. DPW’s portfolio comprises a wide array of services to include leaf collection; street, sidewalk, and alley maintenance; trash collection; recycling; grass cutting; graffiti removal; urban forestry; civil engineering and capital improvement projects along with the Department of Transportation (DOT). DPW delivers essential services that keep the city clean, safe, and healthy. The DOT plans, builds and maintains the city’s transportation system to ensure safe, reliable, and equitable mobility for all users. The department is responsible for traffic operations, street signs, traffic signals, pavement markings, bike lanes, and transportation programs that support economic vitality, environmental sustainability, and quality of life. Guided by the city’s Vision Zero commitment, the DOT works to eliminate traffic-related fatalities and serious injuries through data-driven policies, street design, and community partnerships. In addition, the DOT issues permits for working in the city’s right-of-way; manages Main Street Station and the RVA Bike Share Program. Report service requests to RVA311.com or call 3-1-1.

Driver Charged in Fatal Collision Involving Pedestrian on East Broad Street in December

Following indictments by a grand jury, the driver in the fatal pedestrian collision on East Broad Street in December surrendered at the Richmond Justice Center today.

 

Harry McCray, 38, of Moseley, Virginia, has been charged with failure to stop for a pedestrian in a crosswalk, careless driving and infliction of death on a vulnerable road user and driving while license is suspended or revoked. All three charges are misdemeanors. His booking photo is attached.

 

On December 27, 2025, at approximately 12:03p.m., officers were called to the intersection of East Broad and North 10th streets for the report of a vehicle colliding with a pedestrian.

 

Officers arrived and found an adult male, William Martin, 71, of Richmond, down and injured in the eastbound lanes of East Broad Street. The driver of the vehicle, McCray, remained at the scene. Martin was transported to a local hospital where he succumbed to his injuries the following day.

 

The RPD Crash Team responded to the scene to investigate. They determined McCray made a left turn from North 10th Street onto the eastbound lanes of East Broad Street and struck Martin while Martin was in the crosswalk. 

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