Coral Gables Scores AAA Financial Ratings

From the City of Coral Gables:

May 13, 2021

Coral Gables' triple-A ratings have been reaffirmed by both S&P and Moody’s. They have also assigned AAA and Aa1, respectively, on the Sanitary Sewer Special Revenue Bonds that will be issued next month for the replacement of some sanitary sewer force mains throughout the City. The debt service for these bonds will not be covered by property taxes, but will be paid from sanitary sewer fees and other available non-ad valorem revenues.

“In spite of the global pandemic, our conservative fiscal approach continues to pay dividends,” said Diana Gomez, the City’s Finance Director. “We have been able to navigate this crisis while maintaining our excellent financial standing.”

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This press release was produced by the City of Coral Gables. The views expressed here are the author’s own.