DALLAS (WBAP/KLIF News) – The City of Dallas’ credit rating has been downgraded again.
For the second time in the last two months, the credit ratings agency, Moody’s, has downgraded Dallas’ bond rating.
14 months ago it was AA-1. It’s now A-1.
The agency cited the financially strapped Police and Fire Pension Fund as the reason behind the downgrade.
It means the city will have more trouble borrowing money and it will have to pay more interest on that money.
There’s a $500 million bond package coming up and the downgrade means Dallas may have to pay an additional $10 million to borrow that money.
Copyright 2016. WBAP/KLIF News. All Rights Reserved.
