Fitch Ratings and S&P Global Ratings assigned 'AA+' ratings for Sarasota County’s 2023 Capital Projects Improvement Revenue Series 2023A Bonds, affirmed 'AA+' ratings on all Capital Improvement Bonds, and reaffirmed the 'AAA' rating for the county’s General Obligation (GO) bonds. Proceeds from the approximate $24.3 million Capital Projects Improvement Revenue Series 2023A Bonds will fund portions of the new Sarasota County Mosquito Management Service facility and the new Emergency Services Administration building. According to Sarasota County Administrator Jonathan Lewis, these bond ratings continue to demonstrate the county’s commitment and ability to successfully generate revenue and manage finances responsibly as stewards of taxpayer dollars while fiscally planning for the future. Steve Botelho, deputy county administrator and chief financial management officer, noted that the county continues to maintain a conservative budget and perform strongly with debt servicing. Fitch Ratings and S&P Global Ratings reports determine the county’s perceived worthiness for investing, similar to an individual’s credit score. Higher bond ratings are typically accompanied by a lower interest rate. ‘AAA’ and ‘AA+’ indicates the county is doing a great job at paying off current debt and is likely to pay off future debts. The rating also indicates lower risk to investors. Fitch Ratings noted that the ‘AA+’ rating on the capital improvements bonds reflects the strong growth prospects for pledged revenues and continued ability to meet debt service. In addition, Fitch’s rating notes the county’s “superior gap-closing and low long-term liability burden,” highlighting the county’s ability to maintain a high level of financial flexibility. S&P Global Ratings indicated that their rating on the capital projects improvement bonds is supported by these credit factors: A broad and diverse taxing base, with wealth levels above the national average and steady population growth. Pledged revenues that rebounded quickly and surpassed pre-pandemic levels in 2021 and 2022 after experiencing a minor dip in coverage in 2020. General creditworthiness, which supports and does not constrain the characteristics of Sarasota County's sales tax revenue bond features. Sarasota County issues revenue bonds to help fund capital projects. To view a complete analysis of the county’s utility system revenue bond ratings, visit Fitch Ratings or S&P Global Ratings. For more information, call 311 or visit sgov.net.