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Article: ITALY: MOODY'S DOWNGRADES THE ITALIAN CITY OF NAPLES' DEBT TO A2; STABLE OUTLOOK.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- March 9, 2008
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Moody's Investors Service has downgraded the City of Naples' long-term debt rating to A2 from A1. The rating outlook is stable. The rating action reflects Moody's view of the persistent difficulties facing Naples as a result of the city's record in generating its own sources of revenue and its increasing financial exposure. Naples' poor collection rates on local taxes and charges - primarily on fines and waste management tax - have been exacerbating the pressure it faces on cash flow generation, leading to a high and growing level of accumulated receivables. This pressure has resulted in increasing delays in payments, thereby driving liquidity pressure. The ...
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Article: FLORIDA: Naples Earns Upgrades.
The Bond Buyer;
May 24, 2001 ;
489 words
... ... In the southwest corner of Florida, affluent Naples has earned upgrades from Fitch and Moody's Investors Service in time for a $7.4 million ... Poor's does not issue an uninsured rating for Naples. Naples has a permanent population of about ...
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