Moody's Investors Service affirmed Santa Barbara, Calif.'s Aa2 issuer rating, but downgraded to A1 from Aa3 the ratings for the city's 2002 certificates of participation and its 2009 airport revenue bonds.
Moody's Downgrades Santa Barbara COPs and Revenue Bonds
DEC 27, 2012 11:14am ET
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Land isn't the only thing drying up in California, as the drought's economic impacts are dangerously closing in on the state's financial resources.
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