Sarasota County Legacy Trail bonds earn AAA rating
Sarasota County Legacy Trail bonds earn AAA credit rating from Fitch, S&P
Sarasota County's general obligation (GO) bonds, issued for the Legacy Trail project, recently earned a "AAA" rating from S&P Global Rating and Fitch Ratings, reflecting the county's continued financial stability and pragmatic practices. The GO bonds will be the first of two expected issuances to fund the extension of the Legacy Trail. The extension will allow for access to the trail for walking, biking, running and more.
The S&P Global Rating "AAA" rating on the GO bonds reflects the "county's very strong economy, management, liquidity, budgetary perforce and strong institutional framework," according to the release.
"These latest ratings are yet another positive sign of the financial health of Sarasota County as an organization and as a community," said Sarasota County Administrator Jonathan Lewis. "The independent ratings agencies have affirmed what we already know about the county's sound financial operations and the prudent actions of our county commission."
S&P Global Ratings and Fitch Ratings also issued "AA+" ratings for capital improvement revenue bonds, issued for a Sarasota Sheriff's Office support facility and the refinancing of previously issued bonds.
For more information, call the Sarasota County Contact Center at 941-861-5000.