Municipal Bond Credit Report: Structural balance lifts Jamestown, N.Y. away from junk

Municipal Bond Credit Report: Moody’s Investors Service upgraded Jamestown’s issuer and general obligation limited tax obligation ratings to Baa3 from Ba1 Wednesday citing modest budgetary improvements while facing limitations on raising new revenues. Jamestown, whose credit outlook was concurrently revised to stable from negative, has limited revenue-raising powers because the city’s property tax levy cap is near its limit under the state’s tax cap law…. Link to Story