Bond rating downgraded for Wadena
Moody's Investors Service has downgraded the bond rating for the City of Wadena from an A1 to an A2 grade, citing what it calls a limited tax base affected by the 2010 tornado, lower income levels and the fact that certain large FEMA reimbursements to the city are still pending.
The rating applies to the city's general obligation debt, which Moody's spokesman David Jacobson defined as the most common type of municipal bond.
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