Nassau County Credit Rating Increased

Nassau County, Florida, August 5, 2024 -  Nassau County recently received its Aa1 credit rating by Moody’s Investors Services, a global risk assessment firm who analyzes the financial health of businesses, including local governments. This is an increase from its previous rating of Aa2 issued in 2021 and is considered a “high investment grade”. This means that Nassau County signifies a low-risk on investment with a high probability that we are able to meet financial commitments. 

Moody’s July 19, 2024 Issuer Comment stated, “Nassau County’s issuer rating reflects the County’s growing underlying economy and prudent budget management and fiscal policies that support maintenance of strong financial reserves.”  The report directly credits Nassau County’s strong financial position based on revenue growth and management's commitment to maintenance of unassigned fund balance at 16% to 20% of operating, in line with the Government Finance Officers Association (GFOA) recommendation of having at least two months operating expenses in Reserves.

Over the years, the Board of County Commissioners (BOCC) has implemented strategies to increase its credit rating and the County’s overall financial health. These efforts have been developed through the County’s strategic plan and implemented through programs including, but not limited to, the Pavement Management Plan, Chip Seal Program, Capital Improvement Plan, and the County’s budgeting process.

BOCC Chairman John Martin stated, “Moody’s has once again recognized Nassau County’s strengthened policies and growing financial health. This further signifies the BOCC’s efforts to prioritize financial planning and its dedication to strengthening the County’s financial position. I am extremely proud of my fellow BOCC members and County staff for their hard work and dedication.”

If you have any questions, please contact Chris Lacambra, Director of the Office of Management & Budget, at (904) 530-6010 or via email at clacambra@nassaucountyfl.com.