NORTH PORT (SNN TV) – Moody’s Investors Service upgrades North Port’s bond rating. The bond rating goes from aa3 to double aa2.
In a press release, Moody’s says it reflects the city’s “strong financial position.” It mentions North Port’s “ample reserves,” several years of balanced operations and “strong management.” Moody’s says North Port’s economy and population are growing faster than the nation and will likely continue to grow due to residential and commercial development.
The city’s adjusted median household income however, is below the medians for the rating category they’re in.