City of Jacksonville

The City of Jacksonville is honored to announce that S&P Global and Kroll Bond Rating Agency have reaffirmed top-tier “AA” ratings and a stable outlook for the City’s 2026 special revenue bonds, which fund infrastructure projects in the Capital Improvement Plan. Last week, Fitch Ratings reaffirmed an “AA+” rating.

All three leading agencies agree that Jacksonville is in a strong financial position after conducting an unbiased and apolitical analysis of the City’s current and future fiscal outlook.

The S&P and KBRA ratings reflect strong fiscal management, a fast-growing economy, a commitment to storm resilience, a robust pipeline of downtown development projects, and healthy budget reserves.

“We are grateful S&P and KBRA have joined Fitch in recognizing Jacksonville’s strong financial position and budget management,” said Mayor Donna Deegan. “These top-tier ratings are like having a good personal credit rating that means lower interest rates and money saved for your family. Similarly, the City will save millions in taxpayer dollars as we fund critical infrastructure projects across Jacksonville.”

Highlights from the S&P Global Analysis

• Strong Fiscal Management: Proactive and sophisticated financial policies and practices, demonstrated by well-rounded budgeting practices, general fund forecasting and long-term capital planning, and formal policies on debt and investments.
• Robust Economy: The “AA” rating reflects S&P’s view of Jacksonville’s robust and diverse economy, which continues to strengthen through healthy employment gains and investment coming to the city, along with an already significant military presence.
• Focus on Resilience: The City is working to address its immediate and long-term weather-related risks by implementing the Resilient Jacksonville strategy, which includes a commitment to reduce risk in land and neighborhood decisions.

Highlights from the KBRA Analysis

• Jacksonville’s strong commitment to financial resilience.
• The City’s $7 billion public and private development pipeline, of which approximately 54% is completed or under construction, includes projects for parks, infrastructure, mixed-use development, and workforce development.
• Fund balance levels far exceed the City’s Reserve Policy targets, providing a substantial cushion.

About the City of Jacksonville

The City of Jacksonville is the largest city by land mass in the contiguous United States, serving one million residents. City of Jacksonville leadership includes Mayor Donna Deegan and a 19-member City Council. To learn more, visit jacksonville.gov.