Credit rating agency Moody’s Investors Service has issued a new outlook for the state of Colorado, citing the “challenges” of the ongoing winter storms.
In its report, the agency said it expects to see a decrease in snowfall of 1.7 inches per year in the next five years.
That would be the fourth consecutive year of below-average snowfall in Colorado, and the fourth straight year of above-average.
The forecast is based on the state’s average annual precipitation of 4.5 inches, and an average annual temperature of 18.7 degrees.
The forecast is similar to what the state saw a few years ago, when the average annual snowfall was 2.2 inches.
It is the lowest annual snowpack forecast in the country, the third-lowest in the world.
Moody’s said in its report that its outlook for Colorado is based more on a reduction in snowpack than on snowfall.
It said snowfall, on the other hand, could increase, due to warmer temperatures.
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