CHICAGO — Moody’s Investors Service yesterday downgraded and assigned a negative outlook to all of Cleveland’s outstanding debt, warning that a weak economy continues to pressure the city’s fiscal position.

Moody’s downgraded $326 million of outstanding limited-tax general obligation debt to A3 from A2. The agency also downgraded to Baa1 from A3 its rating on $65 million of non-tax revenue bonds, $116 million of income-tax backed debt, and $151 million of outstanding certificates of participation.

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.