Moody's Downgrades Woonsocket's Bond Rating

Moody's rating agency has dropped Woonsocket's bond rating a notch from B2 to Ba2, and another fall may be in the future.

Woonsocket City Council President John Ward said he didn't think the dropped rating was related to the recentfor the city. Ward said the supplemental tax was listed as one of the good pieces of financial information in Woonsocket's favor, so it's unlikely the news of its failure to pass Thursday was part of the assessment. "I don't think they considered that when they issued it," Ward said.

Anchorising.com has posted the full report, and notes the near simultaneous timing. But Ward said he thinks it's just a coincidence.

However, he said, Moody's may well re-assess the city's bond rating after the supplemental tax stall and drop it further.