The City of Omaha’s AAA bond rating has been downgraded because of long-term problems with the city’s underfunded pension system.
Moody’s Investors Service announced Friday that it was moving Omaha to an AA1 rating. The agency said the city’s struggles with meeting its pension obligations was “not consistent with the expected financial practices of highly rated cities,” according to a press release from the Mayor’s Office.
Another rating agency, Standard and Poor’s, still gives Omaha a AAA rating, which means the city’s general obligation bonds are now considered “split” rated.





