Despite consultant, Coralville still receives lower bond rating - KWWL - Eastern Iowa Breaking News, Weather, Closings

Despite consultant, Coralville still receives lower bond rating

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CORALVILLE (KWWL) -

Despite spending big money to improve its image, the City of Coralville continues to receive negative outlooks from an investors service.

This week Moody's Investors Service re-affirmed the City of Coralville's lower bond ratings due to the city's debt.

According to a Moody's press release, Coralville has outstanding $88.5 million of long term general obligation tax debt, $151.5 million in annual appropriation debt, plus millions in debt on other revenues.

Following an earlier announcement by Moody's, the city spent thousands of dollars to hire a consultant to help it improve its bond rating.

Coralville's debt was a big concern during the November 2013 mayor and city council races which received national attention.

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