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Tag: Bond ratings


Tacoma: Amid ongoing budget crisis, Fitch downgrades two city bonds yet again

For the second time in six months, a San Francisco rating analyst has downgraded the city’s ratings for two taxpayer-backed municipal bonds and placed them on a long-term negative outlook.

Fitch Ratings on Monday downgraded Tacoma’s unlimited tax general obligation (ULTGO) bonds to an A+ rating from what had been AA rating. Fitch also downgraded the city’s limited tax general obligation (LTGO) bonds to A from an AA- rating. The city currently holds $23.8 million in debt in ULTGO bonds and $82.3 million in LTGO bonds. 

The impact of  Fitch’s downgrade won’t cost taxpayers more money, but it could mean the

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