S&P revises Tampa’s Bond Rating from AA+ to AAA
Today we were made aware that S&P has revised its rating criteria for debt secured by non-ad valorem revenues and, consequently, it has upgraded the credit rating of many of its outstanding U. S. local government credits including the City of Tampa’s Non-Ad Valorem Revenue Bonds were upgraded to AAA from AA+.
“This increase is just another confirmation of the City of Tampa’s steadfast commitment to transparent fiscal accountability,” said Mayor Bob Buckhorn. “We are a city that prides itself on our ability to invest in and strengthen our infrastructure, green spaces, and neighborhoods while still being able to balance the budget year after year. Emerging out of the worst recession since the Great Depression, Tampa has received 13 increases in its credit ratings since 2011.”
Please refer to the attached report for a brief summary of the criteria change and a list of the issuers and specific outstanding issuances positively impacted by this change.