|
|
Article: ITALY: MOODY'S DOWNGRADES CITY OF NAPLES TO A3; NEGATIVE OUTLOOK.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- February 22, 2009
CopyrightCOPYRIGHT 2009 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Moody's Investors Service has today downgraded the City of Naples' long-term debt rating to A3 from A2 and changed the outlook to negative from stable. "Today's rating action primarily reflects Naples' persistent difficulties in cash flow generation and its increasing financial and commercial exposure as of fiscal year 2008, in the context of structural budgetary rigidity," comments Francesco Soldi, Moody's lead analyst for Naples. The negative outlook reflects Moody's view on the extent of structural issues affecting Naples' budget in the context of high systemic pressures. "Persistent poor collection rates on local taxes and charges -- primarily on fines and waste ...
Related newspaper, magazine, and journal articles:
|
|
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 ...
|
|