Sarasota County receives another positive Fitch review

Fitch Ratings, a global leader in credit ratings and research, deemed Sarasota County to be “very healthy” financially.

Fitch gave the county an “AA+” for its $37.5 million infrastructure sales surtax revenue refunding bonds and a “AAA” for the county’s implied general obligations rating. Fitch analysts said Sarasota County is maintaining a strong financial profile and that operations are well-maintained, according to a press release from the county.

Fitch Ratings also upped the utility system revenue bond from “AA” to “AA+” last month.

“Fitch recognizes that we have instituted financial policies designed to provide a strong base of reserves and that our community is seeing signs of a strengthening economy,” said Steve Botelho, assistant county administrator.

The county will sell the infrastructure sales surtax bonds in the coming weeks, and the proceeds will go to refunding the outstanding infrastructure sales tax bonds from 2008. Part of the bond proceeds will free up $2.1 million from the 2015 fiscal year, which will fund part of the county’s roadway resurfacing program.