ATLANTA - Praising Florida's response to Hurricane Andrew, Standard & Poor's Corp. on Friday said it has not downgraded any issuers in the state in the aftermath of the storm.

"Federal grants and reimbursements will cover the damage to virtually all public facilities," Hyman Grossman, managing director at Standard & Poor's, wrote in an introductory section of the agency's report. "Strong financial management also played a key role in maintaining ratings."

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