Moody's Investors Service said it has downgraded to Baa2 from A3 the rating on the township of East Pennsboro, Pa.'s $31.8 million of outstanding general obligation bonds and has assigned a negative outlook to the rating.
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.
the bond buyer conferences
September 25-27, 2013JW Marriott LA Live, Los Angeles, CA
October 27-29, 2013Crowne Plaza Times Square Manhattan, New York, NY