Moody’s Investors Service has downgraded city of Austin bonds from Aaa to Aa1 just before the city gets ready to sell $271 million in general obligation bonds. The agency cited Austin’s “high leverage and fixed costs attributable to the city’s pension and other post employee benefit plans” as the reason for the downgrade. Mark Dombroski, […]
municipal bond rating
The rating on a bond issued from a local government entity.
Posted inResources
Austin Water officials share concerns over bond downgrade
At the most recent meeting of the Joint Committee on Austin Water Utility’s Financial Plan, utility officials shared concerns about the fate of their bond rating. Due to similar financial circumstances, Ft. Worth’s Tarrant Regional Water District was recently downgraded by rating agencies. Assistant Director of Finance and Business Services David Anders was worried […]