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Monday, June 17, 2024
HomeLocal NewsTamarac's Financial Stability Gets Top Grade from Fitch Ratings

Tamarac’s Financial Stability Gets Top Grade from Fitch Ratings

In a move that underscores the city’s robust financial management, Fitch Ratings has upgraded the City of Tamarac’s Issuer Default Rating and Stormwater Revenue Bonds from AA to AA+. This coveted rating upgrade signals heightened confidence in the city’s creditworthiness and financial stability, placing Tamarac among the top-rated municipalities nationwide.

The AA+ rating, reserved for high-quality credit profiles, positions the city for potentially lower borrowing costs in the future. This development comes as a testament to Tamarac’s sound fiscal policies, prudent financial planning, and commitment to maintaining a strong economic foundation.

“We are thrilled about this well-deserved recognition from Fitch Ratings,” said Commissioner Marlon Bolton. “Our team has worked tirelessly to ensure responsible financial stewardship, and this upgrade affirms our efforts. We look forward to continuing to serve our community with a solid financial foundation.”

Fitch Ratings’ upgrade is a significant milestone for Tamarac, as it enhances the city’s credibility in the financial market. With an AA+ rating, the city can explore more favorable terms for future borrowing, ultimately benefiting residents and local businesses.

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