Duval County Public Schools has received an “AA-” Issuer Default Rating (IDR) from Fitch Ratings, an independent agency that evaluates bond ratings. District leaders have expressed their commitment to maintaining this strong rating by focusing on financial stability and preserving strong reserves in the coming fiscal years.
Fitch’s rating reflects a “strongest” assessment of the district’s low long-term liability burden, particularly in terms of direct debt and adjusted net pension liabilities, compared to other local governments. This positive rating affirms the district’s financial health and its ability to manage its liabilities effectively.
Superintendent Dr. Christopher Bernier noted that this rating highlights the district’s proactive steps to ensure fiscal stability despite ongoing financial challenges. In an effort to preserve its financial health, the district is working to reduce annual operating costs by at least $100 million.
“We have been very honest with our community about the proactive, but difficult corrective actions we are taking to steer the district into financial wellness, and this rating is a strong affirmation of those efforts,” said Dr. Bernier.
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