Standard & Poor's Corp. and Fitch Investors Service yesterday lowered their ratings on Pittsburgh to A-minus from A, citing deteriorating financial conditions over the past several years.

All of the bonds affected by the downgrades are insured. The Standard & Poor's move affects only its underlying rating on Pittsburgh; the $529 million of city bonds that Standard & Poor's rates remain AAA in recognition of the credit enhancement.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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