Broward County, Florida; Appropriations; General Obligation Feb 12
Standard & Poors, February 2012
Abstract
Standard & Poor's Ratings Services assigned its 'AA+' rating and stable outlook to Broward County, Fla.'s series 2012 general obligation (GO) refunding bonds, issued for the parks and land preservation project, and affirmed its 'AA+' rating, with a stable outlook, on the county's existing GO debt. Standard & Poor's also affirmed its 'AA' rating, with a stable outlook, on the county's certificates of participation. The ratings reflect our opinion of the county's: Tourism-based economy that is showing signs of economic recovery; Strong finances and reserves despite weakened property and sales tax revenue; Strong management practices that include continuous budget monitoring, long-term financial forecasting, and capital planning; and Low debt and, what we consider, a substantial, but manageable, capital improvement plan...
Companies mentioned in this report are:
- Broward Cnty
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
- Broward Cnty
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