Sanford’s Bond Ratings Upgraded

Financial markets are casting their vote of confidence in progress being experienced in Sanford and Lee County.

Fitch Ratings, one of the top three credit rating agencies in the country, has upgraded Sanford’s bond rating from “AA-“ to “AA”. When determining ratings, the Fitch Group uses the success of the bond projects, revenue, future investment, and growth.

According to Sanford Mayor Chet Mann, “The analysts commented that our successful bond projects, continuing efforts to diversify our utility customer base, and our ability to manage and smartly leverage our assets contributed to the upgrade.” The upgrade will allow borrowing money at lower cost and create a higher financial market.