ALBANY, Calif. — Moody's Investors Service downgraded more than $300 million in Fresno, Calif., debt to speculative grade late Wednesday.

The agency downgraded to Ba1 from Baa2 most of Fresno's lease-supported obligations, while the city's pension obligation bonds, judgment bonds and 2006 certificates of participation were downgraded to Ba2 from Baa2.

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.