DeSantis’s Dissolution of Disney District Stumps Credit Raters - BitcoinEthereumNews.com
KabuhayanAng Dissolution ni DeSantis sa Disney District ay Nagtatalo sa mga Credit Rater05 / 03 / 2022Balita ng Ethereum ng Bitcoin (Bloomberg) — Florida Governor Ron DeSantiss move to punish Walt Disney Co. by dissolving its debt-issuing district has befuddled two of the major credit rating companies that assign high marks to its municipal bonds. Karamihan Basahin mula sa Bloomberg Moody‘s Investors Service and S&P Global Ratings have changed their outlooks on the property tax bonds sold by the Reedy Creek Improvement District to “developing” — a rare designation that doesn’t give bondholders much insight on how their investment will fare. The outstanding securities are rated Aa3 by Moodys and AA- by S&P, the fourth-highest levels available. “Developing scenarios do not come up every day,” said Geoffrey Buswick, a managing director in S&Ps U.S. public finance team. “They are typically associated with an event where, depending on the outcome, the committee could see different credit paths.” To put this in perspective, out of the more than 20,000 municipal securities rated by S&P, there are only six that have a developing outlook, according to the company. This means that depending on how the dissolution pans out, the credit quality of the district‘s debt “could improve, remain