Bond Agency: Disney Attack Could Wreck FL’s Credit

The Miami Herald reports:

One of the nation’s leading bond rating agencies warned Thursday that if the state of Florida doesn’t resolve a conflict over its decision to repeal Walt Disney World’s Reedy Creek Improvement District and its obligation to investors, the move could harm the financial standing of other Florida governments.

Fitch Ratings posted the alert late Thursday on its Fitch Wire web site, nearly a week after Gov. Ron DeSantis signed into law the measure dissolving the special taxing district that governs Disney property by June 1, 2023.

Reedy Creek Improvement District holds nearly $1 billion in bond debt and last week Fitch issued a “negative watch” because of the uncertainty around how that debt will be paid and by whom.

Read the full article.

I’m starting to think Ron DeSantis and co-governor Christina Pshaw have screwed the proverbial pooch.

Apparently the price of owning the Libs is wrecking FL’s credit rating and costing the taxpayers billions. https://t.co/UpzpkAGqkJ

— Rick Wilson (@TheRickWilson) April 29, 2022