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Terms of Use

Information on this website is not intended to be the basis of, and should not be relied upon in making an investment in the Florida Municipal Power Agency.
Each document contained in the Investors section of the website is marked with a dated date and speaks only as of that dated date. Readers are cautioned not to assume that any information has been updated beyond the dated date unless a document expressly states that it constitutes an update of a specific portion of a document. FMPA expressly disclaims any duty to provide an update of any document contained in this section.

Documents in this section make forward-looking statements by using forward-looking words such as may, will, should, expects, believes, anticipates, estimates or others. You are cautioned that forward-looking statements are subject to a variety of uncertainties that could cause actual results to differ from the projected results. Those risks and uncertainties include general economic, business and operating conditions, receipt of funding grants, and various other factors that are beyond FMPA’s control. Because FMPA cannot predict all factors that may affect future decisions, actions, events, or financial circumstances, what actually happens may be different from what is included in forward-looking statements.

Credit Rating

FMPA’s power supply projects have been reviewed by two respected credit rating agencies, Fitch Ratings and Moody’s Investors Service, to provide independent verification of creditworthiness. Credit ratings by Fitch and Moody’s reflect only the reviews of the rating agencies. Explanations of the significance of respective ratings and any outlooks or statements given should be obtained from the rating agencies.

Generally, each rating agency bases its rating and outlook, if any, on the information and materials furnished to it and on its own investigations, studies and assumptions. There is no assurance ratings will continue for a given period of time or that they will be upgraded, downgraded or withdrawn entirely by any of the rating agencies, if, in the judgment of such rating agency or agencies, circumstances so warrant. Those circumstances may include, among other things, changes in or unavailability of information relating to FMPA or the offered securities. Any such downgrade or withdrawal of ratings may have an adverse effect on the market price of offered securities.

Recent ratings are shown below.

FMPA Power Supply Projects Fitch Moody’s
All-Requirements Project
AA-, Stable1 A2, Stable 1
St. Lucie Project A, Negative 2 A2, Stable3 
Stanton Project NA 5 NA 5
Stanton II Project A+, Stable 4
A1, Stable3
Tri-City Project NA 5
NA 5
1 Affirmed October 2019. Ratings subject to change.
2 Affirmed December 2019. Fitch revised its outlook from Stable. Rating subject to change.
3 Affirmed March 2018.Rating subject to change.
4 Affirmed December 2019. Fitch revised its outlook from Negative. Rating subject to change.
5 Project debt paid in full. Rating withdrawn in Oct. 2019.

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