Moody's Investors Service said it has downgraded to Baa2 from A1 the city of Kent, Wash.'s limited tax general obligation bond rating in conjunction with the anticipated sale of its limited tax general obligation refunding bonds, 2012A and limited tax general obligation bonds, 2012B (taxable), expected to be issued in the aggregate amount of $10.4 million.

At this time, Moody's also downgrades to Baa2 the city's outstanding parity limited tax general obligation debt totaling an additional $62.4 million.

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.