Moody's Investors Service said it has downgraded Franklin Pierce University's rating to B3 from B1 on the Series 1998 and 2004 bonds and to Caa1 on the Series 1994 bonds issued through the Hampshire Higher Education and Health Facilities Authority.
Franklin Pierce University Series 1998, 2004 Downgraded to B3 by Moody's
DEC 7, 2012 1:14pm ET
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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.
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