S&P Global Ratings has given a rating of “AA-“ for the County’s upcoming debt issuance of Non-Ad Valorem Revenue Bonds, Series 2022. This rating is consistent with the upgraded general obligation rating from ‘A+’ to ‘AA-’ received in July 2022 and is the result of Hernando County’s improved general fund balance and the improved financial management in the recent years. S&P Global Ratings confirmed that Hernando County is in a good financial position as they are going to the market.
S&P Global Ratings decision reflects their view of the county's:
• Growing economy, with access to the Tampa metropolitan statistical area (MSA);
• Changes to financial management policies and practices, which have yielded positive fiscal results, and a strong institutional framework;
• Strengthened financial profile, with a material increase in available fund balance and maintenance of strong liquidity; and
• Manageable debt burden.
For questions or more information, please contact Hernando County’s Public Information Office at (352) 540-6426.
Original source can be found here.
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