Market Overview

Fitch: Significant Challenges Remain for New Orleans Seven Years After Katrina

NEW YORK--(BUSINESS WIRE)--

The pace of recovery in New Orleans suggests that while significant gains have been made since Hurricane Katrina, major challenges remain regarding infrastructure, financial condition, education, and healthcare, according to a new Fitch Ratings report.

'New Orleans' expanding tourism sector, increasing port activity and a steadily growing population all contribute to a strengthening economic profile that has resulted in the city receiving affirmative recognition in recent months for its business climate,' said Steve Murray, senior director at Fitch.

'Much remains to be done regarding infrastructure improvements, and the affordability of these projects will be an ongoing challenge. Education and the city's chronically high violent crime levels are also obstacles.'

The ability of the current administration and other local agencies to earn and maintain public support for the various necessary initiatives will be critical to keeping recently gained positive momentum.

For more information, a special report titled 'New Orleans Economy on the Mend' is available on the Fitch Ratings web site at www.fitchratings.com.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research: New Orleans Economy on the Mend (Significant Challenges Remain)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=696958

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

Fitch, Inc.
Steve Murray, +1-512-215-3729
Senior Director
111 Congress Ave., Suite 2010
Austin, TX 78701
or
Amy Laskey, +1-212-908-0568
Managing Director
or
Media Relations
Elizabeth Fogerty, +1-212-908-0526
elizabeth.fogerty@fitchratings.com

 

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