Standard & Poor's Ratings Services lowered its rating on Monrovia Redevelopment Agency, Calif.'s bonds issued for the Central Redevelopment Project Area No. 1 to BBB-plus from A-minus.
Monrovia RDA, Calif., Bonds Lowered to BBB-Plus by S&P
JAN 17, 2013 8:17am 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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