Fitch Ratings said it downgrades to BBB-minus from BBB-plus its ratings on the following Howard Bend Levee District, Mo., securities: $19,145,000 million levee district refunding and improvement bonds, series 2005; $5,230,000 (Creve Coeur airport sub-area) levee district improvement bonds, series 2007.
Fitch Downgrades Howard Bend Levee District, Mo., to BBB-Minus
JAN 15, 2013 12:07pm 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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