Niagara Gazette

Local News

January 9, 2013

Rating agency downgrades Falls' bond rating, citing casino cash concerns


Niagara Gazette — The Moody's release also recognizes the potential for the city's bond rating to either go up or down in the future. Under the "what could make the rating go up" section, it lists "favorable" resolution of the casino cash dispute and "trend of structurally balanced operations resulting in significantly improved liquidity and general fund balance. Conversely, under reasons why the rating could go down, it lists an unfavorable resolution to the casino revenue dispute, continued deterioration of general fund balance and significant decline in taxable value. 

Mug of Dyster Paul Dyster Looking in to report

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