Moody's Investors Service downgraded the general obligation bond rating of East Pennsboro Township two notches to Baa2 from A3.
East Pennsboro, Pa. Dropped Two Notches
DEC 21, 2012 10:41am 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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