Moody's Interprets Prop 1

Today's The News Tribune editorial referred to a Moody's report about implications of Tacoma's Prop 1 and how it affects rates.

Here's a concise interpretation from reading the report, which you can also do below:

PROP 1 PASSES
Action:  Pass-on 2% tax increase -> rates increase
Action: Don't pass-on 2% tax increase -> bond rating falls -> rates increase

PROP 1 FAILS
Action: No tax increase -> no rate increase