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Reserve Fund Spending Worries Rating Agencies
Credit rating agencies warn South Carolina may lose a potential top AAA rating if lawmakers use a newly created reserve fund for property tax relief. Standard & Poor's notes budget discipline but fears tapping the $52 million reserve could undermine the state’s fiscal recovery and credit outlook.
MENTIONED IN THIS ARTICLE
Columbia
South Carolina
Standard & Poor’s
Moody’s Investors Service Inc
Wall Street
Standard & Poor
House
Ways and Means
Bernhard Fischer
Standard & Poor's
Reserve