Northampton Municipal Authority, Pa., Downgraded to A2 by Moody's

Published March 23, 2015, 12:56 p.m. EDT

1 Min Read

Moody's Investors Service said it downgrades the Northampton Municipal Authority (Bucks County), Pa.'s water and sewer revenue bonds to A2 from Aa3.

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The A2 rating applies to approximately $8.6 million of debt.

It has assigned a negative outlook to the authority's water and sewer revenue bonds.

The downgrade to A2 rating reflects the authority's continuous years of weak debt service coverage and moderate unrestricted cash. The rating also reflects the authority's ability to increase rates and the system's low debt burden.

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