The city of Venice will maintain its AA+ general obligation bond rating for the time being, but received a “negative outlook” from Fitch Ratings, one of several major rating agencies.
Fitch gave the general obligation bond rating of AA+ in late August. Analysts who otherwise indicated the city is in good financial shape said the city’s underfunded police and fire pensions are reason enough to assign a “negative outlook” to the city’s financial forecast.
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