Overland Park’s credit rating downgraded amid pandemic slump in convention business

In downgrading the city's credit rating from Aaa to Aa1, bond rating agency Moody's cited that loss of tax revenue from the city's convention center and connected Overland Park Sheraton Hotel, above, and analysts' worries that the city will have to dip into reserves in order to meet shortfalls in coming years. File photo.

The bond rating agency Moody’s has downgraded Overland Park’s credit rating, due to pandemic stresses on the hospitality industry and the city’s convention center hotel.

The city’s general obligation unlimited tax rating dropped from Aaa to Aa1 on Dec. 6.