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
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