Florida Executive Office of The Governor issued the following announcement on Nov. 12.
Standard and Poor’s (S&P) confirmed Florida’s AAA Stable rating on Florida’s General Obligation (GO) bonds, the highest rating available, and established that Florida has earned a rating that is higher than the nation. This AAA rating reaffirms that Florida is leading in responsible governance and the Florida economy is continuing to grow and thrive.
Florida’s AAA rating places the state above the nation’s rating of AA+. Florida is also outranking other high population states with California only earning a AA-, and New York only earning a AA+. S&P is one of the nation’s leading bond rating companies and provides high-quality, independent opinions on creditworthiness.
“Florida’s economy is strong because we have kept the state open, maintained a positive economic climate, taxed lightly and spent wisely,” said Governor Ron DeSantis. “Florida is yet again outpacing the nation, and the state is well-positioned to weather future economic challenges.”
The S&P report finds that Florida is in a superior position compared to the nation as a whole, asserting “Florida’s GO bonds are eligible to be rated above the sovereign because we believe the state can maintain better credit characteristics than the U.S. in a stress scenario.” The S&P report is further testimony that Florida’s commitment to job growth and investments in infrastructure and workforce education are key to having a stable economic environment. The strong rating will allow Florida to continue to provide opportunities for business growth in the long-term.
Original source can be found here.
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