Moody's lifts Florida's Miami-Dade County debt outlook to stable

Thu Feb 14, 2013 2:03pm EST

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Feb 14 (Reuters) - Moody's Investors Service on Thursday lifted its ratings outlook to stable from negative on about $3 billion of Aa2-rated general obligation and Aa3 non-ad valorem debt issued by Florida's Miami-Dade County.

"The stable outlook reflects the county's stabilizing economic and tax base, as well as management's ability to effectively re-align budgetary imbalances, while recognizing ongoing financial challenges in providing service level requirements to a poor residential base having limited financial flexibility," Moody's said in a news release.

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