Fitch Ratings announces Florida’s AAA credit rating ranks higher than the nation
Press release from the Office of Governor Ron DeSantis
TALLAHASSEE, Fla. — Today, Fitch Ratings affirmed Florida’s AAA credit rating, the highest rating available. This announcement follows Fitch’s recent downgrade of the Federal government’s credit rating from AAA to AA+. The AAA rating reinforces Florida’s position as the standard-bearer amongst the states and the federal government for sound fiscal responsibility. Florida has maintained the highest rating category by the three major credit rating agencies for five consecutive years.
The report reinforces that Florida is “well-positioned to maintain a high level of fundamental financial flexibility through economic downturns, with broad expenditure and revenue controls buttressed by robust reserves,” and comes weeks after Governor DeSantis announced that Florida paid off nearly one-quarter of the state’s outstanding debt since he took office in 2019.
“Today’s announcement reinforces that Florida’s track record of conservative policy, early debt repayment, and strong reserves is the blueprint for states and the federal government to follow,” said Governor Ron DeSantis. “As excessive spending and irresponsible governance ballooned our nation’s debt to the detriment of its credit rating, Florida remains the standard-bearer for smart fiscal policy.”
The report finds that Florida’s consistent AAA ratings and prudent financial decisions are in line with “its history of sound financial management practices, high gap-closing capacity and reserves, and low long-term liability.” The rating reinforces the state’s strong economic conditions and ability to provide long-term business growth opportunities. To read the full report, click here.
Conservatism at work.
You mean those “conservatives” in the US House who created the debt ceiling crisis?
“On Tuesday, Fitch Ratings downgraded its long-term credit rating for the U.S. from AAA to AA+. The downgrade came after a debt ceiling crisis that, although resolved, had politicians threatening a standoff that could have resulted in the nation defaulting on its debts. …”
Hey, 3 thumbs down for a cold hard fact! Not a very swift crowd here.
The GOP “conservatives” have basically controlled both the Florida legislature and Governor’s Mansion since 1999, yet the state’s current debt is about $25 billion. That’s not fiscal conservatism. (To say nothing of the national debt growing by a whopping $7.8 trillion during Trump’s “conservative” four-year term.)
As you might expect, the far left G’ville Sun didn’t cover this accomplishment. Their heroes, Harvey Ward and his merry band of incompetents are busy ruining G’ville, while the conservatives running the state have lowered taxes, reduced the state debt and achieved the highest credit rating.
I think that makes the state’s rating higher than GRU’s as well.