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.
13 Articles
13 Articles
DC loses ‘Aaa' credit rating, gets negative outlook amid federal layoffs
Federal worker layoffs and uncertainty over policy changes under the Trump administration have caused D.C. to lose its top “Aaa” credit rating with Moody’s Ratings. Moody’s, one of the three major bond rating agencies, announced Wednesday it downgraded D.C.’s rating to “Aa1” and changed its outlook to “negative.” Fitch Ratings and S&P Global Ratings are also watching D.C. for a possible downgrade. It’s the latest financial blow to the nation’s c…
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DOGE just cost DC one of its ‘Aaa’ credit ratings
Credit rating agency Moody’s has cut its credit rating for the D.C. government from its top Aaa rating to Aa1 and revised its outlook to “negative,” citing the effects of federal government job and spending cuts on the District’s economy. Related stories Top DC education leader outlines plans for the future, but budget cuts are looming Major DC budget cuts include hiring freeze, no more overtime pay Trump…
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