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Moody's downgrades Niagara Falls yet again

by TSchmitt
Thu, May 16th 2013 09:30 am

Borrowing is going to get more expensive for Niagara Falls, as Moody's has lowered the city's bond rating.  

The downgrade is the second in five months for Niagara Falls, and is being blamed on the city's weakened cash position because of the continued delay in receiving casino revenue.  

The Seneca Nation has been withholding its payments to the city and the state over a dispute over exclusive casino territory. 

 

 

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