ITCH RATINGS AFFIRMS COLLIER COUNTY RATINGS, DECLARES OUTLOOK IS STABLE
Post Date: 01/20/2017 1:25 PM
FITCH RATINGS AFFIRMS COLLIER COUNTY RATINGS, DECLARES OUTLOOK IS STABLE
Fitch Ratings, one of the three largest credit rating institutions in the world, issued on Jan. 17 its rating surveillance report on two of Collier County’s outstanding bond securities. Fitch Ratings specifically reviewed the Special Obligation Bonds and the Gas Tax Revenue Bonds; and the ratings on each of these securities was affirmed at “AA” and “AA-,” respectively.
Fitch Ratings also affirmed the County’s Corporate “Issuer Default Rating” (IDR) at AA+. The report suggested several positive factors that lead to these exceptionally strong credit ratings, including the County’s “solid revenue framework”, “expenditure flexibility” and “strong gap closing ability,” plus a “budgeted 2017 general fund operating millage rate well below the statutory limit.”
The organization declared the County’s ratings outlook as stable.
“We are pleased to receive this affirmation from Fitch Ratings that validates the County’s budget and financial model, as well as speaks to the strength of the County as a positive, long-term investment,” said County Manager Leo Ochs.
The public can access Fitch’s report on Collier County’s ratings here.
For more information, contact Kate Albers at (239) 252-8579.
Fitch Ratings also affirmed the County’s Corporate “Issuer Default Rating” (IDR) at AA+. The report suggested several positive factors that lead to these exceptionally strong credit ratings, including the County’s “solid revenue framework”, “expenditure flexibility” and “strong gap closing ability,” plus a “budgeted 2017 general fund operating millage rate well below the statutory limit.”
The organization declared the County’s ratings outlook as stable.
“We are pleased to receive this affirmation from Fitch Ratings that validates the County’s budget and financial model, as well as speaks to the strength of the County as a positive, long-term investment,” said County Manager Leo Ochs.
The public can access Fitch’s report on Collier County’s ratings here.
For more information, contact Kate Albers at (239) 252-8579.
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