Press Release 21-42 (08-18-21) AAA Rating

08-18-21

21-42

Fitch Assigns AAA Rating to the City of Marco Island Fitch Ratings has assigned the City of Marco Island a ‘AAA’ Long-Term Issuer Default Rating (IDR). The AAA IDR reflects the City’s consistent maintenance of healthy general fund reserves and a low long-term liability burden. Fitch acknowledged that the City’s general fund unrestricted fund balance has consistently exceeded the City’s reserve policy of 25% of total spending. Fitch noted that the City’s consistent maintenance of healthy reserve balances reflects prudent fiscal management.