Gainesville sees credit rating drop due to collective debt with utility
Gainesville's credit rating has dropped again due to its collective debt, the bulk of which comes from the municipal utility.Moody's Investors Serv...
February 1, 2023
4:06 AM
Gainesville's credit rating has dropped again due to its collective debt, the bulk of which comes from the municipal utility.Moody's Investors Service — one of three bond rating agencies — issued the city an Aa2 credit rating, one notch down from Aa3, the city announced Tuesday. It is the fourth-highest long-term investment grade given by the agency and is still considered a top-tier short-term grade.Officials attribute the downgrade in part to a methodology change that now includes enterprise fund debt.
Andrew Clan