ORLANDO-Standard & Poor's Ratings Service has downgraded Lake County's Resource Recovery Industrial Development refunding revenue bonds to triple-B from triple-B plus.
The New York-based firm fears the civil lawsuit Lake filed in April of this year against Fairfield, NJ-based Covanta Energy Corp. could affect the sale of the bonds. Lake is trying to regain control of the 13-year-old, 100-acre incinerator complex near Okahumpka, FL, 55 miles northwest of Downtown Orlando.
The plant, outside of Leesburg, FL, is Lake County's most controversial commercial/industrial venture.
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