Due to sound tax base growth; strong financial management; and a stable, growing local economy, independent bond rating service Fitch recently provided a AAA bond rating to Flower Mound’s General Obligation bonds.
“We’re very pleased to receive this AAA bond rating from Fitch and appreciate their recognition of our conservative financial management and strong financial improvements the Town has made over the last several years,” said Flower Mound Mayor Tom Hayden.
This is the first time Fitch has issued a bond rating for Flower Mound. According to Fitch, Flower Mound has transitioned from “a bedroom community to an increasingly diverse economy benefitting from its proximity to the DFW Metroplex and Airport.” Low unemployment rates, rising property values, consistent financial performance, and several large development growth opportunities all contributed to the rating. To view the entire rating report, please visit www.fitchratings.com.
The Town also received good news from independent bond rating service Standard & Poor’s (S&P), reaffirming its AAA rating of Flower Mound’s General Obligation bonds. In March, S&P upgraded the Town’s rating from AA+ to AAA, further proof Flower Mound remains dedicated to fostering quality business growth, residential developments, and budgetary flexibility.
Molly Fox is communications and marketing manager with the Town of Flower Mound.