Standard & Poor's Ratings Services said it lowered its rating and underlying rating to A from A-plus on King County Public Hospital District No. 1, Wash.'s limited-tax general obligation bonds, issued for Valley Medical Center.
Valley Medical Center, Wash., Downgraded to A by S&P
DEC 13, 2012 11:50am 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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