Moody’s Upgrades Tampa’s Solid Waste Revenue Bonds - Tampa receives fourth ratings boost this year
Moody’s Investors Service has upgraded the City of Tampa's solid waste revenue bonds. The ratings increase is the fourth ratings increase that the City of Tampa has received to date in 2014, demonstrating the city government’s strong management conditions as well as strong fiscal policies.
"Tampa and our region's economic stability begins at City Hall. My mission as Mayor is to create economic opportunity that will go on to generate new jobs and spark innovation, and to do that, the city must be fiscally sound,” said Mayor Bob Buckhorn. "Ratings increases reflect how the choices and decisions we’ve made, even though they haven’t always been easy, ensures our long-term sustainability."
Moody’s states that the improved rating reflects "stronger economic performance of the service area," and that the Solid Waste and Environmental Program Management Department has taken appropriate steps towards efficiency which will “result in improvement of debt service coverage and liquidity.”
To view the upgrade, please visit tampagov.net.
In September 2014, Standard and Poor's upgraded the City of Tampa’s Issuer Credit Rating, more generically thought of as the city’s general credit rating, from a ‘AA+’ to ‘AAA’, the highest possible rating for municipal issuers. Also in September 2014, Standard and Poor’s upgraded the City of Tampa’s occupational license revenue bonds from ‘AA’ to ‘AA+’. In July 2014, Fitch Ratings upgraded the City’s outstanding water and sewer revenue bonds from 'AA+' to 'AAA'.