Moody’s downgrades to A2 rating on Rio Nuevo Multipurpose Facilities District (City of Tucson) AZ’s subordinate lien excise tax revenue bonds

TUCSON  – Last Thursday, Moody’s Investors Service downgraded to A2 from A1 the rating on Rio Nuevo Multipurpose Facilities District (City of Tucson), Arizona’s subordinate lien excise tax revenue bonds. The downgrade affects $64.7 million in outstanding bonds. The bonds are secured by a subordinate lien pledge on the district’s incremental state sales tax revenues. […]

Moody’s downgrades to A2 rating on Rio Nuevo Multipurpose Facilities District (City of Tucson) AZ’s subordinate lien excise tax revenue bonds Read More »