RENO, Nev. (AP) — Moody’s Investors Service has downgraded its rating for an $8.1 million bond the city of Reno used to finance part of the downtown railroad trench to just a step above “junk” status.

The Reno Gazette-Journal reports Moody’s dropped the rating from A3 to Baa3 on Monday because of shortfalls in the 1 percent hotel room tax created to pay off the debt for the nearly $200 million project.