Tamarac, Florida – The City of Tamarac has recently achieved a significant financial accomplishment. Fitch Ratings, a globally recognized credit rating agency, has upgraded the City of Tamarac, Florida’s Issuer Default Rating (IDR) to ‘AA+’ from its previous rating of ‘AA.’ This upgrade is a clear indication of Tamarac’s robust economic health and its ability to fulfill financial obligations effectively.
Fitch Ratings has also upgraded the stormwater revenue notes, series 2009, to ‘AA+’ from ‘AA’. The agency highlights several key factors contributing to this positive change. The upgrade to ‘AA+’ is a testament to Tamarac’s ongoing efforts to strengthen its economic base, showcasing a notable increase in the city’s assessed values and an upward trend in revenue growth.
The significance of this upgrade cannot be overstated. It not only signals the city’s strong fiscal resilience in navigating economic challenges but also boosts investor confidence. This positive change is expected to open new doors for economic development opportunities, benefiting the community at large.
Fitch’s acknowledgment of Tamarac’s financial stability and growth prospects is a strong validation of the city’s strategic planning and financial management.