Fitch and Moody's credit ratings unemployment
What the county recorded
This item is not from the published agenda
It is a stretch of the recording that this archive identified as a separate matter — a call to order, a recess, or something taken up that the agenda does not list. There is no official title, no staff recommendation and no disposition, because the county never recorded one. Everything below is inferred.
The source document
The county’s agenda for Board of County Commissioners, Sep 21, 2020
The published PDF, as served by the county. This item is one entry in it.
The county’s minutes for Board of County Commissioners, Sep 21, 2020
The published PDF, as served by the county. This item is one entry in it.
What was said
Machine transcription of 2m of recording, with speaker names inferred from voice matching. 80% of 5 lines carry a name. It shows what was said, not what was decided, and both the words and the names can be wrong.
Biles. All right. Uh a couple of items uh on the good news front. Um Both Fitch and Moody's uh We did a credit evaluation on the county as part of our new bond offering that's going out s shortly. Um And both of them held us constant with what we were last time, so double A two and then Double A. um on S or on Moody or Fitch was double A. And Fitch is a very good thing. Rating included a stable outlook, which puts
the county in a very low credit risk category. Now keep in mind we're right in the middle of a pandemic where local governments and state governments across this country are had significant financial distress and that is the rating that y you got as a board got from the two largest rating agencies in the country with respect to our new so that s says that as a board in the in the process we are using to budget and expense our money is is well received in New York and
the way we manage our our our budget process and everything else. So th I just wanted to give you that bit of good news that came out over the weekend. The other one is if you didn't see it on Friday. Our unemployment rate in Pasco County is down to six point seven percent. Um which is I'm not sure I was expecting to see that number until after the turn of the calendar. Uh and not only that, when you actually dig into the numbers, ten thousand more people are working in August than we're working in July. And that's a pretty substantial number. Still a little less than where we were last
August, but Um Getting there and getting there pretty fast. So that's that's that's good uh for Pasco County. That's consistent across the Tampa Bay region, uh those kinds of numbers. So that's that's positive and that's positive leading into as we talk about budget tonight, that Puts us in a pretty stable and secure position. So that's all I had. Those two pieces of good news. Okay.
Mr. Stein Steiner. I don't have anything. Um That I need to talk to you about today. Okay, thanks.