Quincy Credit Rating Downgraded

— News about Quincy from Quincy Quarry News with commentary added.

Someone has some ‘splaining” to do
A Quincy Quarry News file photo

The City of Quincy’s credit rating downgraded.

Earlier this week, Standard and Poor’s downgraded the City of Quincy’s credit rating by a full rating level.

Last December, Standard and Poor issued a “Negative Outlook” on Quincy’s credit rating.

Normally, Standard and Poor gives a municipality a year to address matters whenever it issues an outlook change.  As such, this week’s downgrading of Quincy’s credit rating after only six months is disconcerting.

And in the meanwhile, the credit rating downgrade hit the fan just as Quincy Mayor Thomas P. Koch’s variously problematic high-risk plan to bail out the City of Quincy’s woeful underfunded pension fund.

How woeful, Mayor Koch would likely to at least consider sacrificing at least his firstborn if such could phantasmagorically boost Quincy’s employee pension fund to only be as bad off as the MBTA’s less woefully underfunded pension fund.

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