At the same time, Fitch affirmed its “BBB” rating on the district’s series 2011A and 2011B revenue bonds, affecting $19.5 million of debt.
The affirmation is a result of the district’s healthy profitability metrics, its position as the sole community provider in Martin County and its stable financial profile through the revenue cycle. Fitch also acknowledged the district’s exposure to a highly volatile oil-based economy.
The outlook is stable.
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