Town of Miami Lakes was recently upgraded from an “AA” rating to “AA+” rating for special obligation bonds after the biannual independent review on the Town’s fiscal and budgeting practices by Fitch Ratings.
Fitch is one of three nationally recognized statistical rating organizations (NRSRO) 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.
Nearly 90 percent of the world’s largest institutional investors routinely turn 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”.
The upgraded rating is an endorsement of the Town’s fiscal management policies and operations in a coordinated effort between the Town Council and staff.