Miami Lakes has maintained its “AA” rating for special obligation bonds, following a biannual review of the town’s fiscal and budgeting polices by Fitch Ratings.
The long-term credit ratings are assigned on an alphabetic scale from “AAA” to “D.”
Fitch Ratings is a one of three nationally recognized statistical rating organizations, which are designated by the U.S. Securities and Exchange Commission, and ratings help to bring an informed perspective to the U.S. public finance sector, according to a media release.
“I am pleased that Fitch has affirmed an ‘AA’ rating to the [Town of Miami Lakes] Special Obligation Bond,” said Mayor Wayne Slaton, in a media release. “The town council along with our town administration practice conservative budgeting along with excellent fiscal expense management. Receiving this high rating shows that the Town of Miami Lakes is financially sound.”