Fitch cuts Miami-Dade water, sewer debt ratings

MIAMI Fri Feb 1, 2013 3:09pm EST

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MIAMI Feb 1 (Reuters) - Fitch Ratings on Friday downgraded its credit rating on $1.9 billion of water and sewer revenue debt issued by Florida's Miami-Dade County to A plus from AA minus.

The credit agency said the water system faced declining margins and large capital needs, according to a news release.

"The rating outlook is stable," Fitch said.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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