A New York financial rating service has given Highlands County an "A" bond rating and classified its ability to pay off current debt as "stable."
In a press release issued Friday, Fitch Ratings said its "A" ratings for Highlands County bonds "reflects the strong debt coverage provided by pledged sales tax revenues, the county's low debt levels, and high general fund balance trend over the last few years."
Also considered in its rating, the firm said, is "the agricultural based economy as well as the low wealth levels of residents.
"Despite declining sales tax receipts from weakening economic conditions," the firm continued, "debt service coverage remains very good. Given the county has no plans to issue additional parity debt, coverage levels of the bonds should remain favorable for the foreseeable future."
The full rating of the county government as far as borrowing through bond issues is available at the firm's web site: www.fitchratings.com.
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