Pension funding bonds, also known as pension obligation bonds, rarely improve the credit quality of the state or the local government that issues them, says Moody's Investors Service in a report.
Moody's: Pension Funding Bonds Bring Risks to State and Local Governments
DEC 11, 2012 11:47am ET
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Land isn't the only thing drying up in California, as the drought's economic impacts are dangerously closing in on the state's financial resources.
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