July 25, 2012 / 7:38 PM / 5 years ago

Moody's eyes ratings cuts on $669 mln of Miami debt

July 25 (Reuters) - Moody's Investors Service put $669 million of Miami's debt on review for possible ratings cuts on Wednesday, two days after the city was told federal regulators had determined Miami officials had misled bond investors about its finances.

"During the review, Moody's will determine whether the issues identified by the SEC (Securities and Exchange Commission) are known to us and have been incorporated into our analysis of the city's finances," Moody's said.

Moody's said it had placed under review: an A2 rating on $25.4 million of Miami general obligation unlimited tax bonds, an A3 rating on $226.2 million of limited ad valorem bonds, an A3 rating on $277.3 million of non-ad valorem obligations, and an A2 rating on $139.9 million of special tax obligations. (Reporting By Michael Connor in Miami)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below