Moody's Investors Service said has downgraded to A1 from Aa3 Yuma County, Ariz.'s issuer rating.
The downgrade to A1 primarily reflects recent declines in reserves and the county's slow recovery from the recession, according to the rating agency.
The county drew down reserves from 2013 to 2015, resulting in below average reserve levels. Additionally, the county's economy has not recovered as quickly as other parts of Arizona from the recession.
Socioeconomic measures are also below average, Moody's said. Positively, the county's large tax base has stabilized and the county does not have any general obligation debt outstanding.
