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.
East Pennsboro, Pa., Downgraded to Baa2 by Moody's
DEC 14, 2012 1:38pm 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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