Effective Aug. 20, Nassau County holds a AAA rating from Fitch Ratings Inc., up from its previous AA score reported in April. AAA is the highest distinction issued by the rating agency.
Fitch is one of the world’s top credit rating agencies, providing independent assessments of creditworthiness.
According to a Sept. 10 news release, Fitch attributed the upgrade to the county’s “financial resilience and favorable economic and demographic indicators.”
Fitch analysts also cited population growth, healthy reserves and low government expenditures for the increase.
“I am pleased to see another positive rating from Fitch. County officials have worked hard to lower debt and maintain a high level of emergency reserves. This new rating proves we are moving in the right direction here in Nassau County, Florida,” said Nassau County Board of County Commissioners Chairman John Martin.
“This upgrade reflects the confidence that investors and analysts have in our ability to maintain sound financial practices that ensure a secure future for our community,” said county Clerk of Courts and Comptroller John Crawford.