St. Lucie County Earns Improved S&P Credit Rating
“The increase in our credit rating shows the Board’s continued commitment to its fiscal responsibility and with the support of our staff, we will continue to properly manage the County’s finances,” said St. Lucie County Board of County Commission Chair Frannie Hutchinson.
S&P raised its general obligation rating on St. Lucie County to AA from A+ with a stable outlook. The AA rating indicates a very strong capacity to meet financial commitments. The report stated the County “will likely continue to maintain its very strong budgetary flexibility through strong management practices over the outlook’s two-year period.” Additionally, S&P affirmed its A+ long-term rating on the County’s state-revenue sharing improvement bonds as well as its transportation revenue bonds.
“The upgrade of the County’s financial assessment from prior years is due to the Board’s leadership in making tough budget decisions and the hard work and dedication of the County staff to work through the significant budget challenges brought on by the Great Recession,” said County Administrator Faye Outlaw, MPA, ICMA-CM. “Under the ongoing direction of the Board, staff is poised to continue to properly manage the County’s finances (taxpayer dollars) and work on closing the operating budget gap over time.”