Fitch Ratings this week downgraded to BBB-minus from BBB the implied revenue bond rating on the Cleveland-Cuyahoga County Port Authority, and revised its outlook to negative from stable.

The downgrade reflects the “financial strain the authority faces beginning in 2009 due to lower forecast revenues and higher expenses,” Fitch said in a release on the downgrade.

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.