CFO Jimmy Patronis: Moody's Investors Service and Fitch Ratings Reaffirm Florida’s AAA Credit Rating
11/12/2021
TALLAHASSSE, Fla. – Today, Chief Financial Officer (CFO) Jimmy Patronis released the following statement on Moody's Investors Service and Fitch Ratings reaffirming Florida’s 'AAA' rating. The announcement comes on the heels of S&P Global issuing Florida a 'AAA' rating with a stable outlook.
CFO Jimmy Patronis said, “Today’s announcement by Moody's Investors Service and Fitch Ratings is another historic moment for the State of Florida. Having the state’s Triple-A bond rating reaffirmed by all three national credit rating agencies directly reflects the tremendous hard work and smart fiscal management. It’s no secret Florida is in a better economic position because of sound leadership, and our credit rating is just the latest example.
“As CFO, I work every day to ensure the state’s finances are strong and support Florida’s economic growth. The fact is, when the states’ credit rating is strong, Florida’s taxpayers reap the benefits. By continuing to make smart financial decisions and being good stewards of what we have been given, our economy will prosper, businesses will thrive and Florida will continue to be the best place to live, work, raise a family and run a business.”
Earlier this year, U.S. News & World Report ranked Florida tenth in their 2021 Best States Rankings, beating out states like New York and California.
Moody's Investors Service stated, “Florida's Aaa rating reflects its large and diverse economy, well-managed finances and low long-term liabilities.”
Fitch Ratings stated,” Florida remains well-positioned to maintain a high level of fundamental financial flexibility through economic downturns, with broad expenditure and revenue controls buttressed by robust reserves.”
CFO Jimmy Patronis said, “Today’s announcement by Moody's Investors Service and Fitch Ratings is another historic moment for the State of Florida. Having the state’s Triple-A bond rating reaffirmed by all three national credit rating agencies directly reflects the tremendous hard work and smart fiscal management. It’s no secret Florida is in a better economic position because of sound leadership, and our credit rating is just the latest example.
“As CFO, I work every day to ensure the state’s finances are strong and support Florida’s economic growth. The fact is, when the states’ credit rating is strong, Florida’s taxpayers reap the benefits. By continuing to make smart financial decisions and being good stewards of what we have been given, our economy will prosper, businesses will thrive and Florida will continue to be the best place to live, work, raise a family and run a business.”
Earlier this year, U.S. News & World Report ranked Florida tenth in their 2021 Best States Rankings, beating out states like New York and California.
Moody's Investors Service stated, “Florida's Aaa rating reflects its large and diverse economy, well-managed finances and low long-term liabilities.”
Fitch Ratings stated,” Florida remains well-positioned to maintain a high level of fundamental financial flexibility through economic downturns, with broad expenditure and revenue controls buttressed by robust reserves.”
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About CFO Jimmy Patronis
Chief Financial Officer and State Fire Marshal Jimmy Patronis is a statewide elected official and a member of Florida’s Cabinet who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida’s firefighters, and ensure the state’s finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and X (@FLDFS).