Rating agency issues warning after DeSantis signs bill retaliating against Disney in Orlando

Florida Gov. Ron DeSantis signed a bill dissolving a special tax district in Orlando that governs the sprawling Disney World resort — the same day a leading credit agency warned of the risks of the bill.

The special tax district, the Reedy Creek Improvement District, has controlled 25,000 acres in Orange and Osceola counties.

KOMO-TV News reported, "During a bill-signing ceremony Friday in Hialeah Gardens, DeSantis acknowledged that the measures were aimed at punishing Disney for defying him on the education bill, which was formally titled the 'Parental Rights in Education Act' but was dubbed by opponents as the 'don’t say gay' bill."

Florida has been a leader on the GOP's attacks on LGBTQ equality — which some Republicans think will backfire on the party.

"If it is dissolved, the Reedy Creek district’s debt obligations, revenues and responsibilities would be transferred to Osceola and Orange counties and the small cities of Lake Buena Vista and Bay Lake. The legislative action prompted credit-rating agency Fitch Ratings on Friday to place a “rating watch negative” on about $1 billion in outstanding district debt," KOMO reported. "The Fitch alert, issued before DeSantis signed the bill later in the day, did not lower the district’s bond ratings but cautioned investors about future actions."

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