Press Release
By Nassau County Board of Commissioners
09-13-23
Nassau County, Florida, September 13, 2023 – Nassau County recently received
notification from Fitch Ratings, Inc. (Fitch) that its Outlook has been upgraded to positive
from its previous rating of stable in 2021, further demonstrating the County’s commitment
to managing its debt and improving its ability to meet financial obligations.
Fitch is an American credit rating agency nationally recognized by the U.S. Securities and
Exchange Commission that provides independent assessments of the County’s
creditworthiness, similar to a consumer’s FICO or credit score. A Positive Outlook Rating
indicates an upward trend on the rating scale and shows that the County is fiscally strong
and disciplined.
In announcing its decision, Fitch analysts cited several key reasons for the increase
including:
- Continued durability in the growth of Nassau County’s economic base
- Improved expenditure flexibility evidenced by a sustained decrease in
governmental fixed carrying costs as a percentage of total government spending
well below 10%
Board of County Commissioner’s Chairman Klynt Farmer stated, “The County has worked
hard to produce sound financial policies including reducing existing debt and increasing its
emergency reserves. I am very proud of this Board and its budget staff for their hard work
and for being good fiscal stewards for the County.”
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 the notice from Fitch, Clerk of
Courts John Crawford stated, “What great news! Fitch Ratings, an independent rating
agency, has once again affirmed the County’s high credit ratings and upgraded our
outlook from stable to positive. I am incredibly proud of the Board (and their staff)
for prioritizing financial planning and dedicating efforts to strengthen the County’s
financial position.”
If you have any questions, please contact the Office of Management & Budget at (904)
530-6010, Option 2
