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Fitch Ratings affirms various Cape Coral ratings

December 12, 2013

Fitch Ratings affirms the following ratings for Cape Coral, Fla.: --$104.5 million special obligation revenue bonds, series 2006, 2007 and 2011 at 'A+'; --$15....

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(5)

1sandy

Dec-14-13 9:47 PM

Thank you current City Council.

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lightswitch

Dec-15-13 3:29 PM

MODERATE DEBT LEVELS AND CARRYING CHARGES (INTEREST) ARE HIGH!

Making an end run on the 10 point millage cap with costs to homeowner like a 7% utility tax and a separate Fire Assessment tax that is really another kine of credit by issuing bonds year after year. This is mismanaged money which shows us the 38% council and city manager took out of the general fund exposes its existence. Let's see how long this false stability lasts until the funds run out again.

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1sandy

Dec-15-13 11:00 PM

Ah yes, out from under their rocks the RAG detractors and critics crawl. Thank you Mayor Sawicki for turning this City around.

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lightswitch

Dec-16-13 4:26 PM

Don't correct the problem of high debt and high interest payments on bonds the city has already issued! Issue more to exacerbate the situation of HIGH DEBT AND HIGH CARRYING CHARGES. Insolvency can't happen soon enough.

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lightswitch

Dec-16-13 4:39 PM

Sandy what was the bond rating in Cape Coral before the city reigned in the debt that was in the form of interest only short term financing and extra high interest. Don't remember do you. Debt rating with the Best bond rating company was a D. D for those that are Dumb. Why to even get it to the A status the current Finance Director was brought in after a city manager who cut spending and two or three $20 million 30 year bonds were issued to convert all the garbage short term paper the city had issued under Terry Stewart and Mark Mason. So now we just continue to LEVERAGE the solvency of the city which is going to run out of ability to pay back the billion dollars it owes. This city manager will be LONG GONE before any of his pipe dreams are found to just that pipe dreams!

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