News

Actions

Standard and Poor downgrades Ralston Arena's bond rating

CORP-Digital-Default-Image-1280x720-KMTV.png
Posted at 6:12 PM, Sep 20, 2016
and last updated 2016-09-20 19:12:40-04

The bonds used to build the Ralston Arena have been downgraded by a ratings firm.

Standard and Poor’s lowered the arena's bond rating from "A plus" to B-B.

In part due to the arena's failure to turn a profit.

Credit analysts say the arena's financial woes are putting pressure on the city's finances and taxing flexibility.

However, Arena general manager Stan Benis says last year for the first time, the arena turned a profit on the operations side.