For Immediate Distribution
July 12, 2011
Media Contact: Helena Poleo
Standard and Poor’s Reaffirms the City of Doral’s AA- Credit Rating
Doral, FL - Standard & Poor’s Rating Service (S&P) has reaffirmed the AA- rating for the City of Doral, and has given the city a stable outlook. Despite the economic downturn, the City of Doral’s rating remains the same as the last detailed review performed by S&P, proving the government’s financial stability in an uncertain economy.
"This is a testament to the City of Doral’s sound financial policies and management and confirmation that we are committed to being fiscally responsible," said Doral Mayor Juan Carlos Bermudez.
S&P cited Doral’s strong financial position, its overall low debt burden, a deep and diverse economy coupled with strong wealth and income indicators as its main reasons for the favorable rating. “In our view, the city’s financial position continues to be strong,” cites the S&P report.