Moody’s Investor Service recently announced that the Solid Waste Authority of Palm Beach County has maintained its Aa2 rating on its revenue bonds. Bond ratings are an evaluation of a bond issuer's financial strength, and the Aa2 rating indicates that SWA obligations are, “judged to be of high quality and are subject to very low credit risk.”
“This rating is a reflection of our dedication to serving the citizens of Palm Beach County in the most fiscally-responsible way possible,” said Mark Hammond, SWA Executive Director. “By maintaining sound business practices, we are able to construct world-class facilities at the lowest possible cost.”
The bonds are secured by an unlimited non-ad valorem assessment on property throughout Palm Beach County, which accounted for 65% of total systems revenue in Fiscal Year 2016, as well as other operating revenue of the system.
Moody's Investors Service is a leading provider of credit ratings, research and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets. The firm's ratings and analysis track debt covering approximately 120 sovereign nations, 11,000 corporate issuers, 21,000 public finance issuers and 72,000 structured finance obligations.