The City of Jacksonville has received “AA” ratings from S&P Global and Kroll Bond Rating Agency for its 2025 special revenue bonds, joining Fitch Ratings’ earlier “AA+” affirmation.
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These ratings are a testament to Jacksonville’s strong financial health, allowing the city to borrow at lower interest rates and save taxpayers millions. The ratings reflect the city’s solid financial track record, healthy reserves, and a robust and diverse economy.
“We are grateful that S&P and Kroll have joined Fitch in recognizing the significant progress our city is making,” said Jacksonville Mayor Donna Deegan.
The ratings highlight Jacksonville’s economic strengths, including its significant military presence and fast-growing population. The city is the economic engine for the seven-county Northeast Florida region, with a population increase of over 15% in the last decade.
S&P Global noted Jacksonville’s comprehensive financial policies and fiscally responsible management, which have resulted in years of positive operating performances and healthy reserve levels.
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The city is also focusing on climate resilience, with efforts such as adding staff to its resilience team and participating in the Storm Resiliency and Infrastructure Development Review Committee.
Kroll Bond Rating Agency praised Jacksonville’s exceptional budget and appropriation process, as well as its ideal management structure and policies.
The city’s reserves exceed policy targets, underscoring its commitment to financial resilience.
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