Wenatchee’s Credit Rating Downgraded… again…

Moody's Investor's Service has downgraded Wenatchee's bond rating this week because Wenatchee has declined to loan $1M to the Greater Wenatchee PFD to cover its upcoming interest payments. This downgrade comes despite Wenatchee's recent sales tax increases which were in part meant to raise revenue necessary to refinance the PFD debt and avoid such downgrades.

Hopefully the City of Wenatchee can reign in its spending to match revenues so as to avoid further detrimental credit rating downgrades.

More information can be found at the Wenatchee World.