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Moody's Rating Agency Keeps Eye on Orange County, Fla., Tourism-Backed Debt.

Knight Ridder/Tribune Business News, February, 2004

By Jerry W. Jackson, The Orlando Sentinel, Fla. Knight Ridder/Tribune Business News

Feb. 3--The creditworthiness of Florida's tourism-based debt has held up well in recent years despite the downturn in travel after the 2001 terrorist attacks in New York and Washington, D.C., according to a new analysis by Moody's Investors Service.

Tourism revenue is rebounding in key markets throughout the Southeast, and "full recovery is possible in the near term," Moody's analysts said, though the turnaround remains fragile and could be upset by another terrorist attack or other world events.

Florida's recovery has been stronger on average than that of its neighbors, Moody's said, though the debt Orange County incurred to expand its convention...

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