More bad bond ratings for Caroline County?

Fitch Ratings has Caroline County’s IDA (Industrial Development Authority) bond series from 2002 rated at AA with a negative watch (meaning that the bonds’ rating could be potentially downgraded).

These are the same bonds that Moody’s Investor Services has listed as possibly being downgraded soon as well.

All this while Caroline County is considering issuing more bonds to pay for services such as a new school, a fire station, and a public safety building.

What’s the expression about being up a creek with no paddle?

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