Talk of The Villages Florida - View Single Post - I.R.S. Rules Against The Villages
Thread: I.R.S. Rules Against The Villages
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Old 06-19-2013, 10:52 PM
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Originally Posted by villagerjack View Post
I don't think they did.

"Fitch Ratings-New York-19 June 2013: The recent Internal Revenue Service (IRS) decision regarding the Villages Center Community Development District (VCCDD) WILL NOT IMPACT Fitch-rated Village community development district bonds as they have different governance structures, Fitch Ratings says. Village Community Development District's No. 5 (CDD No. 5) and No.6 (CDD No. 6) special assessment bonds are rated 'A', with a Stable Outlook."

The HEADLINE you quote, was likely written by someone else, not FITCH.
The headline is on the Fitch website, so, unless their website was hacked, I guess Fitch must have written it. I don't know how Fitch reconciles the headline with the wording in the text of the article--maybe just poor proofreading. In any event, with or without the word "unlikely", the gist of the article is still good news for Villagers. I read the latest IRS Memorandum in the same way as Fitch does, but it is still reassuring to have a bond-rating agency make a public statement like Fitch's.