Moody’s Investors Service downgraded the commonwealth’s general obligation debt to Baa3 from Baa1 on Thursday. About $15.5 billion in GO debt was affected, a Moody’s spokesman said.

The Baa3 is Moody’s lowest investment grade rating. Moody’s retained a negative outlook on the debt.

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.