ATLANTA - The passage last week of a constitutional amendment in Florida to limit property tax growth is likely to crimp the finances of local governments in the state and could eventually result in bond rating downgrades, Moody's Investors Service said Friday.

"Moody's does not anticipate any immediate rating changes as a result of the amendment," the rating agency said in a research report. "However, because the amendment could have a negative impact on the financial performance of local governments, some ratings could be revised over the longer term.

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