8:12 AM Wed, Feb 18, 2009 | Permalink
By Business staff  Email this author | Email this entry |
Fitch Ratings has maintained below-average ratings on debt issued by local governments in Rhode Island, reflecting historically challenging economic conditions in the state.
Fitch said that while the operating reserves in the cities and towns have mitigated some of the concerns over weak economic fundamentals in the past, recent deterioration in employment and housing conditions has added budgetary pressure.
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