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INFORMATIONAL ITEM <br /> INDIAN RIVER COUNTY <br /> INTER-OFFICE MEMORANDUM <br /> OFFICE OF MANAGEMENT AND BUDGET <br /> TO: Members of the Board of County Commissioners <br /> DATE: December 29, 2014 <br /> SUBJECT: Standard & Poor's Ratings Services <br /> Indian River County's Limited ral Obligation (GO) Bonds, Series 2006 <br /> FROM: Jason E. Brown <br /> Director, Management& Bu g <br /> Attached is a rating report received from Standard & Poor's Ratings Services. Standard & <br /> Poor's has raised Indian River County's credit rating from "AA" to "AA+" and changed the <br /> outlook to stable from positive on the General Obligation Bonds, Series 2006. <br /> Standard & Poor's considers Indian River County's financial management's practices "strong" <br /> under its financial management assessment methodology. This outlook reflects Standard & <br /> Poor's view of the County's strong economy with a very diverse property tax base; very strong <br /> budgetary flexibility with available reserves at more than 30%of expenditures over the past three <br /> fiscal years; very strong liquidity with exceptional access to capital markets; adequate budgetary <br /> °�- performance; and very strong debt and contingent liabilities with rapid debt amortization. <br /> ATTACHMENTS <br /> Letter from Standard&Poor's Ratings Services <br /> Ratings Direct Report <br /> APPROVED AGENDA ITEM: Indian River County Ap <br /> 2Tved Date <br /> BY: <br /> _ Administrator - -- <br /> , jJo eph A. Baird Count Attorneyy. ^ <br /> y County Administrator Budget <br /> ` De artment <br /> FOR: January 6, 2015 Risk Man agement <br /> 16 <br />