The County has credit rating on its debt from Moody's Investors Service ("Moody's"), Standard and Poor's Ratings
Services ("S&P"), and Fitch Ratings (“Fitch”). Hillsborough County's general credit rating was upgraded last
December to "AAA" from “AA+" by S&P. This now gives the County general credit ratings of Aa1/AAA/AA+ from all
three rating agencies: Moody's, S&P and Fitch. As stated in Moody's credit report for Hillsborough County, an
improved credit rating reflects continued health, diversity and growth in the County's economy, strong tax base
expansion, strong financial administration and a manageable debt position. The County's strategic goal is to
maintain general credit ratings of at least Aa/AA/AA. All the County's credit ratings as of September 30, 2007 are
shown in the following table. The County's high credit ratings are a notable achievement since they generally lead
to lower interest costs on debt financings. The County's debt obligations are issued and administered in such a
manner as to ensure and sustain long-term financial integrity of the County, and to achieve the highest possible
credit ratings.