Moody

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billion in other city According tothe Moody’s scale, an rating denotes above-average creditworthiness relative to otherd issuers of municipal bonds. The “2” meanws that the city is in the mid-range of all A-rated bond “The city’s ratings reflec the city’s role as the economic hub of a largetr metropolitan region that has been moderately challengexd during the current economic a satisfactory financial position supported by modest reservezand above-average debt positionm that includes a significant portion of variablew rate debt that adds an additional measure of risk duringg periods of turbulent market conditions.
” Moody’s said the negativw outlook “reflects the city’s exposure to interes t rate volatility and stagnating economif trends that could pose growing pressures on the city’d economically sensitive revenues, particularly given the city’ws modest level of reserves.” The negative outlook is on $294 million of outstandingf general obligation debt and $1.2 billion of outstanding special obligatio n and annual appropriation debt.