Polk County, Winter Haven bonds get vote of confidence from Fitch - Tampa Bay Business Journal:

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The rating outlook on each set of bondzis stable. The bond ratings were affirmef in the course ofroutinwe surveillance, Fitch said in separate releases. The A+ ratinhg for the Polk County bonds reflects the county’s utility solid historical debt service coverage and souns legal provisions, including bondholders’ lien on gross system revenues and connection charges, the release said. It also reflectws an exceptionally high residential rate structure relativs to county median income levels and capital planz that will significantly increase the debt burden and reducr debtservice coverage, Fitch said. The rating coversw four series of bonds issued between 1997 and andtotaling $111.
7 million. Fitch also lookecd at $22.7 million in public improvement refunding revenuer bondsand $7.5 million in sales tax revenue bonds issued by the city of Wintert Haven in 2007 and in respectively. The A+ rating reflects solid debt servic coverage with no additionalleveraging plans, Fitch said. The city has stable financialk operations and healthyreserve levels, a modest debt burden and a limited service-orientedr economy with below-average wealth levels, the release said.