TALLAHASSEE, FLORIDA – Fitch Scores affirmed Florida’s AAA credit standing, the very best score out there.
This announcement follows Fitch’s latest downgrade of the Federal authorities’s credit standing from AAA to AA+.
The AAA score reinforces Florida’s place because the standard-bearer amongst the states and the federal authorities for sound fiscal duty. Florida has maintained the very best score class by the three main credit standing companies for 5 consecutive years.
The report reinforces that Florida is “well-positioned to take care of a excessive stage of basic monetary flexibility via financial downturns, with broad expenditure and income controls buttressed by strong reserves,” and comes weeks after Governor DeSantis introduced that Florida paid off almost one-quarter of the state’s excellent debt since he took workplace in 2019.
“As we speak’s announcement reinforces that Florida’s monitor file of conservative coverage, early debt compensation , and powerful reserves is the blueprint for states and the federal authorities to observe,” stated Governor Ron DeSantis. “As extreme spending and irresponsible governance ballooned our nation’s debt to detriment to its credit standing, Florida stays the standard-bearer for sensible fiscal coverage.”
The report finds that Florida’s constant AAA rankings and prudent monetary choices are consistent with “its historical past of sound monetary administration practices, excessive gap-closing capability and reserves, and low long-term legal responsibility.”
The score reinforces the state’s sturdy financial circumstances and skill to offer long-term enterprise progress alternatives.