Moody's Sees Only Near-Term Stress for Florida Localities

Sigo, Shelly
September 2004
Bond Buyer;9/10/2004, Vol. 349 Issue 31966, p36
Trade Publication
This article reports that Moody's Investors Service Inc. does not expect the damage caused by two recent hurricanes that struck Florida to have rating implications for local credits, although budget challenges and short-term cash flow issues "will pressure many municipal governments in the near term," the rating agency said in a special report. Many municipalities affected by Hurricane Charley, which struck the state August 13, and Frances, which swept through Florida over the weekend, must pay initial upfront cleanup and repair costs.


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