Markets - Market News
Valley Medical Center, Wash., Downgraded to A by S&P
Thursday, December 13, 2012
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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.

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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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