If you are experiencing an emergency or your home is actively flooding, call 911 immediately. If floodwater entered your home but you are not in immediate danger, report the damage to 1PSL at 772-871-1775 (press 3). Reporting helps the City document storm damage and support potential FEMA disaster assistance. Reporting damage does not replace filing an insurance claim.
Published on March 13, 2025
One of the world’s primary credit rating agencies recently affirmed the City of Port St. Lucie’s Utility System Revenue Bonds with an ‘AA’ rating.
In 2024, Fitch Ratings upgraded the Utility System Revenue Bonds from AA- to AA with a Stable Outlook, which reflected a significant enhancement in the Utility System’s financial profile. This February, Fitch reaffirmed the AA rating. It also assessed the Utility System’s Standalone Credit Profile (SCP) at ‘aa,’ which represents the credit profile of the Utility System on its own and without any connection to the credit quality of the City of Port St. Lucie.
Taken together, the AA bond rating and the aa SCP reflect a ‘Very Strong’ financial profile.
Fitch noted that the Utility System is “well positioned” to address growth in its service area, which the rating agency noted was “very favorable” and featured strong customer growth.
“The reaffirmation of Port St. Lucie’s Utility System Revenue Bonds highlights the strategic vision of our City Council and the diligent efforts of our staff to uphold sustainable financial policies and practices,” said Stephen Okiye, Port St. Lucie’s Finance Director/Treasurer. “As the City continues to meet the needs of our growing community, maintaining a strong bond rating helps reduce the costs of building new infrastructure and allows us to continue providing high-quality services to our residents.”