Amid state takeover, bond agency designates negative outlook for Atlantic City

Moody’s Investors Service issued a May 2017 report on Atlantic City that kept the city’s general-obligation bond rating at Caa3 but revised the outlook to positive from negative.

The ratings company believes the state intervention has had a positive effect on the city, but it remains concerned about the city’s continued reliance on the casino industry and high debt burden.

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Les BernalAmid state takeover, bond agency designates negative outlook for Atlantic City