Fitch Affirms Indy’s AAA

Fitch Ratings last week affirmed its AAA rating and stable outlook on Indianapolis.

The rating agency said the management team — which oversees both the city and Marion County — has “prudently managed the reduction in tax revenues as a result of the statewide circuit-breaker legislation and changes in assessed valuation methodologies.”

Analysts also noted the above-average reserve levels, which will help cushion the city as it faces expected continued revenue declines this year and next.

Mayor Greg Ballard unveiled his 2012 budget Monday night.

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Indiana
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