Virginia still has AAA credit rating for now

RICHMOND, VA (WWBT) - The unstable markets are certainly having an impact on the nation and in Virginia.

Virginia still has its AAA credit rating but that could change in the coming weeks and months — the impact of which would be felt widespread.

Governor McDonnell, who just led the state to a surplus of more than $300 million, isn't too happy about that!

Several reports out this morning say a drop in the credit rating could affect the military, federal employees, the interest rate, and more.

Virginia's finance secretary says the state considers itself pretty fiscally responsible, compared to other states.

The state remains on a "negative outlook" because Virginia — like several other states — has it's economy heavily tied into the federal government.

In a recent interview, Governor McDonnell said he is "furious" that the state's credit rating could be lowered.

If that does happen here in Virginia, it would be the first time that's ever happened in the commonwealth, dating back to the 1930's.