S&P raises region's ratings

As the economy continues to increase throughout the Gulf Coast, it's no surprise that credit rating agency Standard & Poor's is upgrading its outlook on municipal bonds.

Consider Collier County. Standard & Poor's recently upgraded the county's credit rating to AAA, up from AA+. The AAA rating is the firm's top rating. The agency cited Collier's strong economy, budgetary flexibility and liquidity, among other strengths.

But Collier is hardly the only county benefiting from the stronger economy. For example, S&P raised Sarasota County's limited ad valorem tax bonds one notch to A- in March, citing the area's recovering property tax base.

In Pasco County, S&P raised solid waste revenue bonds one level to AA. The agency cited the system's improved and “consistently strong” financial profile.

In Lee County, S&P raised Lee County's revenue bonds to AA- from A+. The agency says Lee's economy's is strong, citing per-capita income that is 90% of the national average.

A higher credit rating is beneficial because it gives investors greater confidence. For municipalities, a higher credit rating usually means lower interest costs, too.