LOUISVILLE, KY (WAVE) – A leading credit rating service has leveled a big blow to the financial security of the KFC Yum! Center.
Moody's Investors Service downgraded the arena's bond rating to below-investment grade, citing lower than expected revenue from businesses in a six-square-mile tax increment financing district.
The downgrade was expected to make it more difficult and more expensive for the Arena Authority to borrow money.
It doesn't appear the news will get any better for the KFC Yum! Center. Moody's listen the bond on a watchlist for another potential downgrade.