Fitch Ratings downgraded $98 million of general obligation bonds issued for the Indianapolis-Marion County Public Library to AA from AAA.

The rating action follows an Indiana  law capping property tax bills, which analysts said would likely put pressure on the library’s fiscal position in the future.

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.