Bonds for Riverside County projects get "AA-" rating
Several bonds that will be priced on Nov. 3 and fund projects across Riverside County -- construction of an animal care facility, an 800 MHz public safety radio communication system, and the leasing of several buildings -- were given an "AA-" rating on Thursday by Fitch Ratings.
"The negative outlook reflects Fitch's concern that the effect on the economy of the real-estate market and the real-estate market's severe deterioration will stress Riverside County's traditionally well-managed finances," a news release states. "Continued credit strength will depend on the county's ability to control spending and maintain its above-average reserves throughout the economic downturn. Further deterioration of the strong, currently well-diversified economy could also pressure the rating."
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