Reply to DeSantis and FL moving to hammer Disney

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[quote=Anonymous]Good job, DeSantis. Now let's see you bring this kind of pro-business, small government, sober and careful governance to the whole country.

https://www.tampabay.com/news/florida-politics/2022/04/28/disney-special-district-dispute-could-weaken-other-florida-government-bonds-fitch-ratings-warns/

[quote]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 website, 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.

The 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.

The agency said the situation “reflects a unique and dynamic level of discord” and expects the state to “ultimately work with various stakeholders to resolve the uncertainty.”

But it also added a warning: “The failure to do so could alter our view of Florida’s commitment to preserve bondholder rights and weaken our view of the operating environment for Florida governments.”[/quote]

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