Moody’s maintains negative outlook for Miami-Dade finances

April 2, 2015 8:12 PM

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Moody’s maintains negative outlook for Miami-Dade finances

Miami-Dade County’s low rainy-day fund prompted Moody’s to maintain a “negative” outlook on the government’s finances this week, a reminder of the stakes as Mayor Carlos Gimenez rolls out a plan to boost cash reserves in the coming years.

The for-profit ratings agency maintained the county’s credit score two notches below the top grade, and it also declined to lift the negative outlook for Miami-Dade. That means a downgrade in the actual rating (currently Aa2, which is the third best behind Aa1 and Aaa) is more likely than an upgrade...

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