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Moody’s downgrades DC credit rating

  • Moody's downgraded the District of Columbia's bond rating from 'Aaa' to 'Aa1' due to economic challenges under the Trump administration.
  • The downgrade reflects projected federal workforce cuts of 40,000 workers or 21% over the next four years, which will impact D.C.'s economy.
  • D.C. Chief Financial Officer Glen Lee stated that the downgrade resulted from federal decisions, not local financial management.
  • D.C. Mayor Muriel Bowser warned that significant cuts to programs and services may occur if the House does not pass a budget fix soon, as the city faces a $1.1 billion budget crisis.
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knowherenews.com broke the news in on Thursday, April 24, 2025.
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