Maui bond issue gets AA- rating

Advertiser Staff

Maui County's $52.3 million general obligation bonds to be sold in the first week of the new year were given an "AA-" rating, the fourth highest, by Fitch Ratings yesterday.

Fitch said the rating "reflects Maui's solid tourism appeal and continuing recovery from recent visitor declines, healthy financial reserves, and low debt burden."

The county's positive operations stem from strong growth in property taxes coupled with healthy gains in transient accommodations tax, Fitch said.