State Bond Rating Not Suffering

By  | 

The rating agency Moody's said Mississippi's bond rating should not be affected by damage caused last week by Hurricane Ivan.

In the paper issued Wednesday, Moody's noted that the state lost revenue when 12 coast casinos were closed for nearly three days.

Moody's views hurricane-induced revenue loss or spending as short-term and manageable.

To set bond ratings, agencies evaluate the financial conditions of state and local governments, including the amount of debt the governments carry. The ratings determine how much interest the governments pay when they borrow money for long-term projects.