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Port Arthur's Credit Rating Drops to A-minus After General Fund Draining

Port Arthur's credit rating was downgraded two notches by S & P Global Ratings, falling from A-plus to A-minus. This followed the city draining millions from its general fund for capital needs and emergency water/sewer spending. The downgrade cites years of deficits and significant transfers out of the general fund.

EconomyPublished Oct 2, 12:00 AMAdded Oct 3, 12:54 AM

Sources (1)

  1. kfdm.comOct 2, 12:00 AM

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