Moody's Hits Rhinelander with Multi-Notch Downgrade

Moody’s Investors Service lowered Rhinelander, Wis.’s rating by three notches to A3 from Aa3 due to ongoing strains to its balance sheet.

The action affects $1.9 million of general obligation debt rated by the agency. The city has another $6.2 billion of unrated GO debt.

“The downgrade to A3 reflects the city’s limited available general-fund balance and extremely narrow cash position, primarily due to interfund loans and advances,” Moody’s wrote. “The rating further considers the stable local economy that is experiencing some commercial and industrial growth, below-average socioeconomic profile and an average debt burden.”

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Wisconsin
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