Markets - Market News
Moody's Downgrades to A3 Southern California PPA San Juan Coal Revenue Bonds
Tuesday, December 4, 2012
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Moody's Investors Service said it has downgraded to A3 from A2 the rating on the outstanding Southern California Public Power Authority's $101.8 million San Juan Project revenue bonds.

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Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.

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