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S&P Global Assigns AA+ Rating to City's Water and Sewer Revenue Bonds

Posted by: City of Fort Lauderdale on Tuesday, January 23, 2018

S&P Global Ratings has assigned its 'AA+' rating to Fort Lauderdale's series 2018 water and sewer system revenue bonds. At the same time, S&P affirmed its 'AA+' rating on the system's revenue-secured bonds outstanding. 

The outlook is stable. The ratings reflect the following:

· A very strong enterprise risk profile assessment which includes a strong service area economy, low industry risk, a strong market position, and a "very strong" operational management assessment (OMA); and

· Strong financial risk profile assessment which includes adequate all-in coverage of debt service, a very strong liquidity and reserve position, an adequate debt and liabilities position, and a "very strong financial management assessment (FMA).

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