Monday, September 10, 2018

A Better Mount Pleasant Sends:

"Mount Pleasant’s millions in borrowing to support the construction of Foxconn Technology Group’s $10 billion factory there have led to a one-notch downgrade in the village’s credit rating over fears that the massive factory may not produce the economic benefits officials had promised."

When the bond rating goes down, the interest rate on the debt goes up and taxpayers pay the difference. The millions and millions of dollars borrowed for Foxconn (in addition the debt the village already has) just got more expensive.

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