JACKSONVILLE, Fla. - The City of Jacksonville just got a big boost in its credit rating, which could save millions of dollars spent on projects, according to Mayor Lenny Curry's office.
Fitch Ratings Inc., one of the three main credit rating agencies, announced Friday that Jacksonville was given a Triple-A status. Formerly, the city had a Double-A status.
In a statement, Curry called it a "tremendous win" for Jacksonville.
The improved rating allows the city to borrow money at a lower rate to bond big projects.
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