The F1+ rating is the best short-term rating Fitch grants and corresponds with the County’s overall AAA rating.
In its rating affirmation, Fitch says:
“The 'F1+' rating reflects the county's demonstrated access to the capital markets in the event of a remarketing failure, and the robust economy, healthy reserve levels and improved debt profile that contribute to its 'AAA' GO rating and Stable Outlook. The county has consistently maintained a strong liquidity level, which could be used in case market access was restricted during the 180-day remarketing window.
Fitch's believes that given the county's 'AAA' credit quality and demonstrated access to capital markets through frequent GO issuance, the county will be able to refund the bonds during a windows period. In addition, the county's strong cash position provides a potential source of repayment in a failed remarketing scenario.”
The Fitch Group is one of the three Nationally Recognized Statistical Rating Organizations designated by the U.S. Securities and Exchange Commission in 1975, together with Moody's and Standard & Poor's.
Media Contact: Dena Diorio at 704-336-2228 or Dena.Diorio@MecklenburgCountyNC.gov