Citing the restrictions of Colorado's tax and spending limits, Moody's Investors Service this week downgraded more than $12 million of tax-backed debt issued by three special districts.

In a report Tuesday, Moody's said it had reviewed nine districts and plans to study the effects of the limits, known as Amendment 1, on the rest of the state's 33 special districts it rates.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.