W. Warwick bond rating downgraded

NEW YORK – Fitch Rating last week affirmed the “BBB” rating on the Town of West Warwick’s outstanding $18.9 million general obligation bonds, but downgraded its outlook from “stable” to “negative.” In a news release, Fitch said the “BBB” rating reflected the town’s below-average economic indicators, a limited employment base, and severely underfunded pension system,…

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