[Construction]

Those styrofoam devices separated, and the bottom piece broke. “They should have never put two of those things together, number one, and that is like a boat dock. Well, it’s a water intake. It’s got all these hoists and pumps and all that kind of stuff,” said Ordiales. The crane and barge could look similar to this example, but smaller. The mayor conceded it’s a lot of money for repairs, but the city’s operating funds can handle the expense. “We’re okay,” confirmed Ordiales, “Of course, it will make a gigantic debt, but that’s okay.” Since Ordiales received the total cost of the project just before the city council meeting, she will work to bring the price down if possible. The council also extended the sewer moratorium for another three months. New City of Ethics Board Member appointed  Ordiales selected Alan Fickle to serve on the city of Hiawassee’s Ethics board as a replacement for Susan Phillips.

https://towns.fetchyournews.com/2020/08/12/water-intake-repairs-cost-city-over-200000/

[Finance]

HFI's reliance on short-term financing increases refinancing risk, although this is mitigated by strong funding support from multiple banks and ready access to capital-market funding. Fitch assesses HFI under our Government-Related Entities Rating Criteria, reflecting Hangzhou municipality's very strong control and ownership, moderate support record, moderate socio-political implication of a default by HFI, and strong financial implication of a default by HFI. These factors indicate a strong incentive by the government to provide extraordinary support to HFI, if needed. Factors that could, individually or collectively, lead to positive rating action/upgrade: - Improvement in Fitch's perception of the Hangzhou government's ability to provide subsidies, grants or other legitimate resources allowed under policies and regulations - Stronger socio-political and financial implications of a default by HFI or support from the government - Improvement in the Standalone Credit Profile or the liquidity position of HFI Factors that could, individually or collectively, lead to negative rating action/downgrade: - Deterioration in Fitch's perception of the Hangzhou government's ability to provide subsidies, grants or other legitimate resources allowed under policies and regulations - A weakening of the socio-political and financial implications of a default by HFI and support by the government, or a dilution of the government's control in the company - Deterioration in the Standalone Credit Profile or the liquidity position of HFI Any change in HFI's IDR would lead to similar rating action on its senior unsecured bonds. International scale credit ratings of Sovereigns, Public Finance and Infrastructure issuers have a best-case rating upgrade scenario (defined as the 99th percentile click reference of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of three notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are based on historical performance. For more information about the methodology used to determine sector-specific best- and worst-case scenario credit ratings, visit [ https://www.fitchratings.com/site/re/10111579 ]. REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING The principal sources of information used in the analysis are described in the Applicable Criteria. Unless otherwise disclosed in this section, the highest level of ESG credit relevance is a score of '3'.

https://www.fitchratings.com/research/international-public-finance/fitch-affirms-hangzhou-finance-investment-at-bbb-outlook-stable-23-11-2020