Moody's Investors Service said it has downgraded to A3 from A2 the issuer rating of the city of Fresno, Calif.

Moody's has also downgraded the city's pension obligation bonds to Baa1 from A3 and the city's lease revenue bonds to Baa2 from Baa1. The outlook on the ratings remains negative.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.