Moody's: Irma won't hurt local governments' credit

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While it's too soon to assess Hurricane Irma's total economic impact on Florida, Moody's Investors Service issued a report Tuesday indicating local governments in the affected areas need not fear a credit downgrade. "While damage is still being assessed, the most impacted local governments' near-term liquidity will likely be pressured by unbudgeted public-safety and clean-up costs," Moody's spokesman David Jacobson said. "Still, in general, U.S. municipalities have a strong record of managing through...

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