Moody’s Investors Service downgraded Manitowoc two notches to A1 from Aa2 and assigned a negative outlook due to its structural budget imbalance.

The rating action affects $72.4 million of debt and comes ahead of a $12 million general obligation refunding.

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.