Fitch and S&P both recently recognized the town of Flower Mound’s financial strength by reaffirming its AAA bond rating.
Fitch reaffirmed Flower Mound’s AAA bond rating for General Obligation Refunding bonds and Certificates of Obligation, according to a news release from the town of Flower Mound. Equipped with the highest possible bond rating, the town will be able to continue saving millions of taxpayer dollars through lower interest rates. Fitch based its rating on “Flower Mound’s strong financial profile, supported by its ability to independently raise revenues as well as its solid expenditure flexibility and strong reserves.”
“Since the town achieved its AAA bond rating in 2014, the Town Council, along with Town Manager Jimmy Stathatos and Deputy Town Manager/CFO Debra Wallace have worked to maintain this fiscal recognition through continued strong financial planning and policies,” said Flower Mound Mayor Steve Dixon. “We are proud to be one of only a few communities in Texas that have achieved this rating.”
This is the sixth consecutive year Fitch has issued a bond rating for Flower Mound. To view the entire rating report, visit www.fitchratings.com.
The town also received good news from independent bond rating service Standard & Poor’s. S&P also reaffirmed its AAA rating of Flower Mound’s General Obligation Refunding bonds and Certificates of Obligation due to its “very strong economy, management, budgetary performance and flexibility, and liquidity.”
“The stable outlook reflects our expectations that Flower Mound’s budgetary flexibility and liquidity positions will continue to remain very strong, with the guidance of its very strong management policies,” according to S&P.
To view the entire S&P report, visit www.standardandpoors.com.
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