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Fitch: Oil Price Decline Likely To Have Targeted Effect On Local Texas Economies Revenues

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AUSTIN, Texas--(BUSINESS WIRE)--The dramatic decline in oil prices over the past six months may have implications for economic and revenue trends for certain Texas cities, counties and school districts, according to Fitch Ratings. The state overall and many of the larger municipalities have well-diversified economies, and Fitch expects any losses in oil revenue to be limited and offset to some degree by increased consumer spending based on current forecast scenarios. However, a number of local

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