TBO.com - TBO is Tampa Bay Online

County credit rating may be downgraded

ADVERTISEMENT

The Tampa Tribune

Published: April 10, 2009

TAMPA - Despite receiving a strong credit rating for its investment portfolio, Hillsborough County may not be immune to the worsening economy.

Mike Merrill, the county's debt management director, told county commissioners Wednesday during a budget workshop that Moody's Investors Service this week put all city and county governments in the United States on negative credit watch.

The decision was based on the current recession, and could mean that even strong governments such as Hillsborough might see a downgrade in their credit rating.

A downgrade would mean that it would cost more to borrow money to fund capital projects.

Hillsborough recently received the highest rating possible, AAA-F, from Standard & Poor's.

John W. Allman

Share this:

Loading Comments...

Email Print

ADVERTISEMENT