Oct. 30, 2015
Citing “Very strong management, with ‘strong’ financial policies,” Standard & Poor’s financial ratings service has issued a report affirming Port St. Lucie’s favorable rating of AA- on the city’s General Obligation Bonds, and A+ on other city bonds. The rating is based on the following factors:
The report comes just three weeks after Moody's Investor Service also gave the city a favorable report, following the City Council's approval of a new budget and tax rate for 2016.
S&P's continued favorable rating of AA- indicates the city is managing its debt properly, and provides an independent expert opinion assuring investors that the city can be relied on to pay its debts.
Standard and Poor’s defines an AA rating as, “Very strong capacity to meet financial commitments.” It is their second highest rating. They use the minus (-) sign to show relative standing within the major rating categories.
In evaluating the city’s creditworthiness, Standard and Poor’s assesses several factors affecting city finances including management, budgetary performance, debt and the property tax rate.
For more information, contact:
City of Port St. Lucie