Stadium fund bonds downgraded

CINCINNATI - Hamilton County took a hit from Moody's Investor Services.

The county's outstanding stadium tax bonds were downgraded from A1 to an A2 rating. This move will make it more expensive for the county to borrow money in the future.

Moody's report shows that Hamilton County has about $558.5 million in outstanding tax revenue debt.

It also sites the county's operating budget, stagnate revenue from the sales tax  and the negative outlook of the county's debt.

Moody's warned commissioners of a possible downgrade in October when they voted to sell Drake Hospital to help close the stadium fund gap.

To read the full report, click here (http://media2.wcpo.com/pdfs/HamiltonCountySalesTaxratingupdate.pdf) .

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