Agencies lower ratings on Atlanta’s sewer bonds
Atlanta’s sewer-rate controversy is taking a toll on the ratings of the sewer and water system’s bonds. According to The Atlanta Journal-Constitution, “Fitch Ratings, a New York bond agency, downgraded the system’s bonds last week for a second time since late November. The negative news came on Friday, one day after fellow rating agency Standard &Poor’s Investors Services took a similar step. A week earlier, Moody’s Investors Services took a turn downgrading the bonds.” In early December, the City Council passed a scaled-back version of the rate-increase plan that Mayor Shirley Franklin supports to fund court-mandated repairs. Last week, the mayor vetoed the council’s plan. For more information, visit
http://www.ajc.com/metro/content/metro/atlanta/1203/15atlsewer.html
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