Miami Lakes maintained its “AA” rating for special obligation bonds after the biannual independent review on the Town’s fiscal and budgeting policies by Fitch Ratings.
Fitch is one of three nationally recognized statistical rating organizations designated by the U.S. Securities and Exchange Commission. Fitch Ratings create value beyond the rating by bringing informed perspective to the U.S. public finance sector.
“I am pleased that Fitch has affirmed an ‘AA’ rating to the TOML Special Obligation Bond,” said Mayor Wayne Slaton. “The Town Council, along with our town administration, practices conservative budgeting along with excellent fiscal expense management. Receiving this high rating shows that the Town is financially sound.”
Nearly 90 percent of the world’s largest institutional investors routinely tun to Fitch Ratings for in-depth analysis, comprehensive research and easily understood criteria for rating state and local governments, and public bonds.
Fitch Ratings’ long-term credit ratings are assigned on an alphabetic scale from “AAA’ to “D.” In comparison to Miami Lakes’ “AA” rating, the neighboring communities of Hialeah and Miami Gardens both have “A” ratings.