Fitch, S&P Assign High Rating to the City of Melbourne for Funding of New Police Station
By Space Coast Daily // January 14, 2022
S&P Global Ratings assigned its 'AA' long-term rating
BREVARD COUNTY • MELBOURNE, FLORIDA – Two internationally recognized rating organizations have assigned high ratings to the City of Melbourne’s Series 2022 General Obligation Bonds for the funding of the new police station.
Fitch Ratings has assigned an AA+ rating to the City of Melbourne with a stable outlook for the Series 2022 General Obligation bonds.
In addition, Fitch has assigned an Issuer Default Rating of ‘AA+’ to the City of Melbourne.
According to Fitch Ratings, these ratings “reflect the city’s strong economy and its historically solid operating performance bolstered by solid revenue growth prospects and considerable control over expenditures.”
S&P Global Ratings assigned its ‘AA’ long-term rating to the City of Melbourne Series 2022 General Obligation bonds.
The outlook is stable. “The ‘AA’ rating reflects our view of the city’s broad and diverse economic base, consistent surplus operations, good financial management policies, and strong institutional framework, and manageable debt, pension, and other post-employment benefit burdens,” said S&P Global Ratings credit analyst Katelyn Kerley.
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