Coralville debt rating downgraded - KWWL - Eastern Iowa Breaking News, Weather, Closings

Coralville debt rating downgraded

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CORALVILLE (KWWL) -

The debt rating for the city of Coralville has been downgraded. Moody's Investors Service bumped Coralville's general obligation bond rating three notches to A3.

Its due to too much debt and poor performance of the city-owned Marriott Conference Center. The hotel lost $3.7 million last year. It was built in 2006.

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