TITLE

Report: Florida Debt Capacity at $12 Billion for the Next 10 Years

AUTHOR(S)
Sigo, Shelly
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/8/2004, Vol. 350 Issue 32025, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on Florida which has $12 billion in new borrowing capacity over the next 10 years under the state's self-imposed benchmark debt ratio. Out of it only $750 million can be accessed in the next five years and that should be reserved in case of a downturn in the economy. The available debt capacity is higher than had been anticipated earlier and is attributable to higher than estimated state revenues, debt reaching maturity, less borrowing than projected, and using cash in lieu of debt financing, said Division of Bond Finance director Ben Watkins. Adherence to a targeted debt ratio is one factor helping Florida fiscally outperform its peers.
ACCESSION #
15309155

 

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