St. Lucie County Earns Improved S&P Credit Rating

St. Lucie County recently improved its credit rating by two notches to AA from A+, according to Standard & Poor’s.
St. Lucie County recently improved its credit rating by two notches to AA from A+, according to Standard & Poor’s (S&P), the worldwide leader of financial-market intelligence and independent provider of credit ratings for government entitles. The rating was conducted by the St. Lucie County’s financial adviser Jay Glover of Public Financial Management, as well as County Administration and the Office of Management and Budget.

 “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.”

County Receives USGBC Green Awards

St. Lucie County and Board of County Commission Chairman Chris Dzadovsky recently earned top recognition in the U.S. Green Building Council’s (USGBC) South Florida Chapter GalaVerde Awards.

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