TPPF statement on Dallas’ downgraded debt rating
On Wednesday, Moody’s Investor Service downgraded the City of Dallas’ debt rating for its general obligation limited tax debt, citing the City’s “very large and growing unfunded pension liabilities, a high fixed cost burden, and basic infrastructure needs.” This is the second time Dallas’ bond rating has been downgraded in 12 years. The move came within hours of the Dallas City Council announcing that it would issue an additional $227 million in bonds.
Press Release October 29, 2015