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S&P cuts Miami-Dade County Fire, Rescue Service bonds to 'A-'
September 11, 2013 / 7:33 PM / 4 years ago

S&P cuts Miami-Dade County Fire, Rescue Service bonds to 'A-'

Sept 11 (Reuters) - Standard & Poor’s Ratings on Wednesday cut by three notches its underlying rating on Miami-Dade County, Fla.’s series 2002 special obligation bonds (Fire and Rescue Service District) to A-minus from AA-minus.

The outlook is stable.

“The lower rating reflects recent operating deficits that have driven down reserves to very low levels, combined with management’s inability to balance operations with ongoing revenues,” said Standard & Poor’s credit analyst Hilary Sutton in a statement.

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