TITLE

Moody's Downgrades Eastlake, Ohio's $17 Million of Debt, Citing Deficit

AUTHOR(S)
Carvin, Elizabeth
PUB. DATE
May 2004
SOURCE
Bond Buyer;5/10/2004, Vol. 348 Issue 31880, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports that Moody's Investors Service downgraded debt issued by Eastlake, Ohio, the second downgrade for the city since it sold notes to fund construction of a minor-league baseball stadium. Drop in collection of the city's municipal income tax added to deficit; Moody's reservations about Eastlake's recovery plan; Federal and estate aid awaiting Eastlake that will repay a portion of the stadium debt.
ACCESSION #
13087957

 

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