Miami-Beach-Receives-High-Grade-Credit-Ratings-on-General-Obligation-Bond-
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City of Miami Beach, 1700 Convention Center Drive, Miami Beach, FL 33139, www.miamibeachfl.gov
DEPARTMENT OF MARKETING & COMMUNICATIONS, Tel: 305.673.7575 PRESS RELEASE
Tonya Daniels, E-mail: tonyadaniels@miamibeachfl.gov
Melissa Berthier, E-mail: melissaberthier@miamibeachfl.gov
FOR IMMEDIATE RELEASE
April 9, 2019
Miami Beach Receives Strong Credit Ratings on
General Obligation Bonds
– Due in Large Part to the City’s Robust Resilience Efforts –
Miami Beach, FL – The City of Miami Beach recently received two high-grade ratings
from Standard & Poor’s (S&P) and Moody’s on its 2019 general obligation bonds.
Incorporating risks from climate change and severe weather events into their credit
rating analysis, S&P assigned the city an “AA+” long-term rating and Moody’s an “Aa2”
long-term rating.
“I’m proud to see that our bond score rating has remained at this excellent score as a
result of our proactive efforts in climate adaption and mitigation,” noted Mayor Dan
Gelber. “It is essential that we protect our tax base and financial standing by continuing
to adapt and remain committed to our resilience policies and operations.”
Further supporting Miami Beach’s strong rating, the city received high marks on its
proactive financial management practices and policies. S&P noted the city’s very strong
economy, management, budgetary flexibility, liquidity and strong budgetary
performance. In its report, the credit rating agency applauded the city for maintaining
one of the most robust climate change strategies among local U.S. governments
attempting to address risk.
Moody’s acknowledged the city’s substantial investment in raising sidewalks and streets,
investing in the city’s stormwater infrastructure and focusing on combatting sea level rise
in all capital planning. The high-grade by Moody’s also reflects the city’s large and
growing tax base, very strong cash position, strong tourism reliant economy,
conservative budgeting and high institutional framework score.
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