Fitch Ratings Gives City of Melbourne ‘AA’ Rating After Reviewing Five-Year Capital Plan
By Space Coast Daily // January 7, 2021
'AA' rating means 'very high-quality investment'
BREVARD COUNTY • MELBOURNE, FLORIDA – Nationally recognized statistical ratings organization – has given the City of Melbourne a rating of “AA” with a stable outlook (financial) after reviewing the city’s financial information and its five-year capital plan.
A rating of “AA” means that City’s revenue bonds that are issued periodically to investors are rated a “very high-quality investment.”
Investors should have high confidence in loaning the city funds, and the City should receive low-interest rates when borrowing for capital projects.
The City is very pleased with the rating and appreciates the recognition of the quality of the financial position the water and sewer fund is in and the excellent capital planning done by the Public Works and Utilities Department.