Fitch Ratings Inc. is one of the three nationally recognized statistical rating organizations designated by the U.S. Securities and Exchange Commission, together with Moody’s and Standard & Poor’s, and the three are commonly known as the “Big Three credit rating agencies”
Guam – One of the largest nationally recognized credit rating agencies Fitch just announced Guam’s financial outlook as stable and issued a ‘A-‘ rating to the GovGuam business privilege tax refunding bonds.
The stable outlook and the investment grade rate given to the $404.8 million series 2015 BPT bonds means Guam should be able to garner lower interest rates, which means higher savings for the people of Guam when the bond goes to market next week. According to a news release from the Governor’s Office, Governor Eddie Calvo and the fiscal team recently met with bond raters and investors to discuss Guam’s financial outlook and their presentations were met with favorable responses. Fitch noted that despite worldwide economic conditions, GovGuam has seen a growing tax revenue base.