Moody’s upgrades Miami’s bond rating
Written by Miami Today on March 5, 2018
Moody’s Investors Service has upgraded the City of Miami’s primary bond rating from A1 to Aa2 due to the city’s improved financial position, average debt burden and large, strong diversified economy.
The rating agency cited the positive nature of the Miami Forever Bond Program as the city was proactively addressing sea level rise and affordable housing, in addition to noting that city resiliency was important to continue to grow tourism, population growth, and downtown development.
“This is good news for the taxpayers of Miami,” said Mayor Francis Suarez. “The timing couldn’t be better. This will mean a lower interest rate on the Miami Forever Bond Program and will save our residents the long run.”