City Bond Ratings Strong According to Moody’s and Fitch
Solid Financial Management Recognized by Rating Agencies
May 25, 2023
Rating agencies Moody's and Fitch recently affirmed the City of Tallahassee's strong ratings on two of its bond programs, upholding solid financial management practices for both.
"Responsible fiscal stewardship is instrumental in maintaining public trust. As outlined in our five-year strategic plan, the City strives to maintain its strong financial standing, and these recent ratings reflect the success of that commitment," Mayor John Dailey said.
The Energy System's review by Moody's Investors Service reported the City's rating of Aa3 with a stable outlook. The strong rating recognizes the Energy System's sound cost recovery framework, solid management of natural gas price fuel volatility risk and competitive electric rates.
The Consolidated Utility Systems, which includes water, sewer and stormwater systems, was reviewed by Fitch Ratings, which affirmed its AA+ rating and stable outlook. The strong rating recognizes the Consolidated Utility Systems' very low operating cost burden, rate authority and moderate investment needs.
For more information, visit Talgov.com.
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