Moody's Downgrades Baltimore City's Credit Rating Amid Population Collapse

Moody's Downgrades Baltimore City's Credit Rating Amid Population Collapse Moody's Ratings downgraded Democrat-led Baltimore City's bond rating this week, highlighting a rapidly deteriorating financial situation as declining reserves, depleted utility funds, and mounting borrowing costs strain the crime-ridden metro area best known for the hit HBO series The Wire. Local outlet Fox Baltimore reports that the ratings agency lowered Baltimore's rating from Aa2 to Aa3, citing "declining fund balance and cash levels across all government operations," with much of the deterioration concentrated in utility and internal-service funds. Moody's explained that the city's finances...