Amid ongoing budget crisis, Fitch downgrades 2 Tacoma bonds again
For the second time in six months, a San Francisco rating analyst has downgraded the City of Tacoma’s ratings for two taxpayer-backed municipal bonds and placed them on a long-term negative outlook.
Fitch Ratings on Monday downgraded Tacoma’s unlimited tax general obligation (ULTGO) bonds to an A+ rating from what had been AA rating. Fitch also downgraded the city’s limited tax general obligation (LTGO) bonds to A from an AA- rating. The city currently holds $23.8 million in debt in ULTGO bonds and $82.3 million in LTGO bonds.
