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Moody's Puts Battery Park City Bonds on Watch for Downgrade

APR 9, 2010 7:08pm ET

Moody's Investors Service Friday placed the Battery Park City Authority on watch for a possible downgrade, citing an agreement under which the agency would transfer surplus funds to New York State and New York City.

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New York's budget leaves it at risk of becoming one of only five states that do not allow the use of design-build procurement to deliver public infrastructure projects.

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