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10/3, 9:37 PM (Source: TeleTrader)
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Fitch: Recovery after Ian to happen at slower pace

Fitch Ratings shared on Monday, in a report, that it expects the recovery after Hurricane Ian to go at a "slower pace" in comparison to past hurricanes.

The reasons for such expectations are "the greater numbers of uninsured homeowners and businesses as a result of the higher cost of insurance coverage/policy non-renewals, tight labor market conditions, inflationary pressures and supply chain issues," Fitch Ratings explained.

Nevertheless, the report noted that "ratings of US public finance issuers affected by Hurricane Ian will largely remain stable."

Baha Breaking News (BBN) / AY