Village Hall Cupola
Fitch Affirms "AA" Rating on Palmetto Bay Bonds
PALMETTO BAY, FL, June 2, 2014 -- Fitch Ratings has affirmed a "AA" rating on $14 million in revenue bonds issued by Florida Municipal Loan Council (FMLC) to the Village of Palmetto Bay. In the same announcement this week, the global rating agency also assigned an "AA+" implied general obligation (GO) bond rating to the Village. This is significant news as it affirms that "the Village's financial flexibility is robust, enhanced by strong financial management, and evidenced by a trend of strong reserve balances." In issuing its findings, Fitch also noted that the Village's rating outlook is "stable." Please read more, including the full press release issued by Fitch Ratings on June 2, 2014.
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