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Moody's downgrades Green Bay's credit rating

Moody's Investors Service has downgraded the credit rating for the City of Green Bay.
GREEN BAY, Wis. (WFRV) - Moody's Investors Service has downgraded the credit rating for the City of Green Bay.

It has dropped from an Aa1 rating to an Aa2 on general obligation debt.

The downgrade is due in part, because the city's unemployment level continues to track above state and national medians.

Green Bay Mayor Jim Schmitt tells Local 5 News that he is not concerned and the downgrade is not that big of a deal.

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