Press Release
By Nassau County Board of County Commissioners
09-11-24
Nassau County, Florida, September 10, 2024 – Nassau County recently received notification
from Fitch Ratings, Inc. (Fitch) that its rating has been increased to “AAA”, up from its
previous rating of “AA.” Fitch is one of the world’s top credit rating agencies who provides
independent assessments of the creditworthiness of the County, akin to a consumer FICO or credit score.
The announcement from Fitch directly attributed the upgrade to the County’s financial
resilience, and economic and demographic indicators that compare favorably relative to other
agencies. Fitch analysts also cited several key reasons for the increase including:
- Population growth and maturation of the County
- Maintaining healthy reserve levels that help mitigate risks associated with potential tax
base volatility - Low levels of carrying costs to government expenditures, liabilities to personal
income, and liabilities to governmental revenues
Board of County Commissioners Chairman John Martin stated, “I am pleased to see another
positive rating from Fitch. County Officials have worked hard to lower debt and maintain a
heavy level of emergency reserves. This new rating proves we are moving in the right
direction here in Nassau County, Florida.”
As the County’s Clerk of Courts and Comptroller, Mr. John A. Crawford is governed by
statutory authority as the County’s auditor, recorder, and custodian of all funds. The Clerk
works directly with the Board to ensure the County has adequate financial controls and
actively manages the investment of County funds. Following Fitch’s credit rating increase,
Mr. Crawford stated, “What an incredible accomplishment! The AAA rating is the highest
rating available and is a testament to our county’s strong fiscal management and commitment to fiscal sustainability. This upgrade reflects the confidence that investors and analysts have in our ability to maintain sound financial practices that help ensure a secure future for our community.”
If you have any questions, please contact the County Manager’s Office at (904) 530-6010.
