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Moody's cuts New Haven, Conn.'s GO rating to A3
October 11, 2013 / 9:23 PM / 4 years ago

Moody's cuts New Haven, Conn.'s GO rating to A3

Oct 11 (Reuters) - Moody’s Investors Service on Friday cut New Haven, Conn.’s outstanding general obligation bonds rating to A3 from A2, citing deterioration of the city’s financial position.

The outlook remains negative.

The rating downgrade is due to New Haven’s deficit in fiscal 2012, and a larger-than-anticipated deficit in fiscal 2013, as well as high fixed cost structure, Moody’s said.

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