On Monday, Moody’s Investors Service released a new credit rating for the city of Wichita that reflects the far-reaching impacts of the Covid-19 outbreak on the local economy. The national credit ratings agency downgraded the city’s general obligation bond debt by one notch, from Aa1 to Aa2. In its report, Moody’s says the pandemic is a key driver for the new rating, particularly its impact on Wichita’s aerospace industry. “We currently anticipate that it will take a number of years for the industry to reach pre-pandemic levels,” the report says.
Source: Wichita Business Journal
