Montgomery credit rating downgrade http://apr.org en Montgomery Credit Rating Is Lowered http://apr.org/post/montgomery-credit-rating-lowered <p></p><p>A credit rating agency has downgraded Montgomery&#39;s credit rating, citing what it calls the city&#39;s weakened financial position.</p><p>Moody&#39;s Investor Service issued the lower rating in a report released Monday.</p><p>The city was downgraded from an Aa2 rating, which is the third-best rating available, to an A1 rating with a negative financial outlook.</p> Tue, 08 Oct 2013 20:55:03 +0000 The Associated Press 39395 at http://apr.org Montgomery Credit Rating Is Lowered Moody's Places City Of Montgomery Under Review http://apr.org/post/moodys-places-city-montgomery-under-review <P>Moody's Investors Service has placed the city of Montgomery under review for a possible credit rating downgrade.</P> <P>The Montgomery Advertiser reports that the city's current Aa2 rating is in jeopardy.</P> <P>A recent report said the current rating is in jeopardy because of a deteriorated reserve fund, a deficit in funding medical insurance and the city's recent failures to achieve projections established in previous budget plans.</P> <P>The report also states that reliance on a bank line of credit to fund operations is also a "key reason" for the possible downgrade.</P> <P>Moody's Thu, 08 Aug 2013 21:41:16 +0000 The Associated Press 35681 at http://apr.org Moody's Places City Of Montgomery Under Review