BRADENTON, Fla. — Moody’s Investors Service yesterday downgraded Miami’s general obligation ratings just ahead of a financing to build parking garages for the Marlins’ new baseball stadium, which is under construction.

Moody’s downgraded $34.5 million of unlimited-tax GO bonds to A1 from Aa3, $234.5 million of limited-tax GOs to A3 from A2, and $106 million of  non-ad valorem obligations backed by the city’s covenant pledge to A2 from A1. Negative outlooks were assigned to the bonds.

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.