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[ Press Release ] Fitch Affirms Indian River County, FL Water & Sewer Revs at'AAA'; ... Page 5 of 7 <br />ON THE AGENCY'S PUBLIC WEB SITE AT WWW.FITCHRATINGS.COM. PUBLISHED <br />RATINGS, CRITERIA, AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL <br />TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, <br />AFFILIATE FIREWALL, COMPLIANCE, AND OTHER RELEVANT POLICIES AND <br />PROCEDURES ARE ALSO AVAILABLE FROM THE CODE OF CONDUCT SECTION OF <br />THIS SITE. DIRECTORS AND SHAREHOLDERS RELEVANT INTERESTS ARE AVAILABLE <br />AT HTTPS://WWW.FITCHRATINGS.COM/SITE/REGULATORY. FITCH MAY HAVE <br />PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS <br />RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE <br />LEAD ANALYST IS BASED IN AN EU -REGISTERED ENTITY CAN BE FOUND ON THE <br />ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE. <br />Copyright© 2018 by Fitch Ratings, Inc., Fitch Ratings Ltd. and its subsidiaries. 33 Whitehall <br />Street, NY, NY 10004. Telephone: 1-800-753-4824, (212) 908-0500. Fax: (212) 480-4435. <br />Reproduction or retransmission in whole or in part is prohibited except by permission. All <br />rights reserved. In issuing and maintaining its ratings and in making other reports (including <br />forecast information), Fitch relies on factual information it receives from issuers and <br />underwriters and from other sources Fitch believes to be credible. Fitch conducts a <br />reasonable investigation of the factual information relied upon by it in accordance with its <br />ratings methodology, and obtains reasonable verification of that information from independent <br />sources, to the extent such sources are available for a given security or in a given jurisdiction. <br />The manner of Fitch's factual investigation and the scope of the third -party verification it <br />obtains will vary depending on the nature of the rated security and its issuer, the requirements <br />and practices in the jurisdiction in which the rated security is offered and sold and/or the issuer <br />is located, the availability and nature of relevant public information, access to the <br />management of the issuer and its advisers, the availability of pre-existing third -party <br />verifications such as audit reports, agreed-upon procedures letters, appraisals, actuarial <br />reports, engineering reports, legal opinions and other reports provided by third parties, the <br />availability of independent and competent third- party verification sources with respect to the <br />particular security or in the particular jurisdiction of the issuer, and a variety of other factors. <br />Users of Fitch's ratings and reports should understand that neither an enhanced factual <br />investigation nor any third -party verification can ensure that all of the information Fitch relies <br />on in connection with a rating or a report will be accurate and complete. Ultimately, the issuer <br />and its advisers are responsible for the accuracy of the information they provide to Fitch and <br />to the market in offering documents and other reports. In issuing its ratings and its reports, <br />Fitch must rely on the work of experts, including independent auditors with respect to financial <br />statements and attorneys with respect to legal and tax matters. Further, ratings and forecasts <br />of financial and other information are inherently forward-looking and embody assumptions and <br />predictions about future events that by their nature cannot be verified as facts. As a result, <br />despite any verification of current facts, ratings and forecasts can be affected by future events <br />or conditions that were not anticipated at the time a rating or forecast was issued or affirmed. <br />The information in this report is provided "as is" without any representation or warranty of any <br />kind, and Fitch does not represent or warrant that the report or any of its contents will meet <br />any of the requirements of a recipient of the report. A Fitch rating is an opinion as to the <br />creditworthiness of a security. This opinion and reports made by Fitch are based on <br />established criteria and methodologies that Fitch is continuously evaluating and updating. <br />Therefore, ratings and reports are the collective work product of Fitch and no individual, or <br />10 <br />https://www.fitchratings.com/site/Pr/10050946 11/13/2018 <br />