S&P assigns top AAA rating to Fort Lauderdale’s Series 2025 special obligation bonds reflecting strong financial management and stable outlook

Fort Lauderdale, Florida – The City of Fort Lauderdale announced that Standard & Poor’s (S&P) Global Ratings has assigned its highest possible rating, ‘AAA,’ to the City’s approximately $105 million Series 2025 Special Obligation Bonds. At the same time, S&P affirmed the ‘AAA’ rating on the City’s existing unlimited tax General Obligation (GO) bonds, with a stable outlook for both.

The rating reflects Fort Lauderdale’s strong economic fundamentals, consistent financial performance, and robust reserves, as well as its forward-looking approach to resilience planning. According to S&P, the City’s conservative budgeting, long-term financial planning, and proactive measures to address environmental and cybersecurity risks have contributed significantly to its top-tier rating.

“This reaffirmation of the City’s highest rating is a testament to the financial discipline and foresight of our City Commission, City Manager, and staff,” said Mayor Dean J. Trantalis. “It ensures that we can deliver essential infrastructure and public safety projects at the lowest possible cost to our residents while maintaining the strong financial foundation that keeps Fort Lauderdale moving forward.”

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Proceeds from the Series 2025 bonds will fund several critical projects, including the completion of the new police headquarters and public safety building, as well as key infrastructure upgrades and technology improvements across the City. These investments aim to enhance public safety, support community development, and strengthen Fort Lauderdale’s capacity to serve its residents efficiently.

S&P’s report emphasized that Fort Lauderdale benefits from a strong and diverse economic base. The City has seen consistent growth in redevelopment projects and assessed property values, which supports its long-term financial stability. S&P also noted the City’s long track record of positive financial performance, highlighting that reserves consistently exceed the formal target of 25% of expenditures, a benchmark that underscores fiscal discipline.

“Fort Lauderdale demonstrates conservative, forward-looking financial practices, including long-term planning and formal investment, debt, and reserve policies,” the report states. “Debt and pension liabilities are manageable, pension plans remain well-funded, and limited new borrowing is planned.” These factors collectively underpin the City’s ability to maintain its AAA rating while pursuing ongoing investments in infrastructure and public safety.

The stable outlook reflects S&P’s expectation that Fort Lauderdale will continue to demonstrate strong economic and financial trends. Officials anticipate that the City will maintain reserves above policy levels, adhere to established financial management practices, and manage risks effectively, ensuring long-term fiscal health.

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For residents and investors, the AAA rating signifies confidence in Fort Lauderdale’s financial management and creditworthiness. It enables the City to access capital at lower interest rates, reducing costs for taxpayers while funding essential projects that enhance quality of life.

City leaders described the rating as both recognition and motivation. By maintaining disciplined financial practices and strategic planning, Fort Lauderdale positions itself to meet current community needs and future challenges alike. Investments funded by the Series 2025 bonds are expected to strengthen public safety, modernize infrastructure, and support sustainable growth for years to come.

With S&P’s AAA rating, Fort Lauderdale joins a select group of municipalities recognized for exceptional fiscal management, strategic planning, and resilience. The rating not only reflects the City’s current financial strength but also signals confidence in its ability to sustain growth, manage obligations, and invest wisely in the community over the long term.