WALL STREET HAS CONFIDENCE IN FORT LAUDERDALE

In the latest issue of Focus on Fort Lauderdale published by the City of Fort Lauderdale good news prevailed!

Continued confidence in the financial management of the City of Fort Lauderdale by the Wall Street's leading credit rating institutions is resulting in strong bond ratings and an optimistic outlook for the City.

The Standard and Poor's (S&P) and Moody's Investors service affirms a dramatic financial rebound from the City's financial difficulties in 2003. S&P's latest reports assigned an AA rating with Moody's providing an Aa2 rating. Such positivity results from bond rating upgrades in 2007 while other cities across the state faced bond downgrades.

Sound finances, effective debt service coverage and good liquidity facilitate strong bond ratings translating into savings of millions of dollars on reduced interest rates for City projects. Bond rating agencies describe confident in Fort Lauderdale as "The stability of a strong city management team and hiring of outside consultants for the oversight of this large capital program are credit strengths" according to Moody's referring to the rating assigned to the sale of $155M Water and Sewer Revenue Bonds. Moody affirmed the Aa2 rating on $178.5M outstanding parity bonds, this rating is based on the strength of a well managed system supported by strong liquidity and a competitive rate structure.

The City is Broward County's center for business, trade culture and education with the tax increment districts providing a catalyst for the City's overall development according to Moody's.

Imagine living in the sunshine, among the palm trees, in a city which manages to buck the trends even in today's economy. For real estate investors there has never been a better time to buy. High inventory and diversity offers exciting options for the savvy purchaser.

Julie Jones
www.LuxuryRealEstateFtL.com