Moody's Weighs in on St. Louis Ballpark Issue With Downgrade

Shields, Yvette
November 2004
Bond Buyer;11/23/2004, Vol. 350 Issue 32016, p3
Trade Publication
Reports that Moody's Investors Service Inc. downgraded a Saint Louis County-backed bond issue for the Cardinals ballpark adding its voice to the controversy over the impact of a successful referendum banning subsidies for professional sports stadiums without prior public approval in Missouri. Moody's rating on the appropriation-backed ballpark project revenue bonds that are being repaid with the country's share of hotel taxes; Impact of the passage of the Charter Amendment on the political risk of non-appropriation associated with debt.


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