Credit rating agency warns Florida could lose standing in budget standoff

Political brinkmanship that has led to a stalemate over the Florida budget could reflect a weakening of state budget management should it continue beyond the end of the fiscal year, Standard & Poor’s Ratings Services says. “A budget standoff that continued past June 30, without appropriations in place for upcoming debt service payments, would be a sign of weak budget management that could pressure our outlook on Florida,” S&P wrote in a May 29 report, adding a caveat that no credit rating…