Four months after Moody’s Investor Service put the city of Las Vegas on notice that its credit rating might be downgraded because of high pension liabilities, the credit rating agency reversed course.
Moody’s announced Monday that it is affirming the city’s A1 rating for improvement revenue bonds issued last year.
“The city has a manageable but still above average pension burden, based on unfunded liabilities associated with its share of statewide multi-employer cost-sharing plan,” Moody’s said in its release.
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