Glendale, Calif. saw its issuer rating downgraded to Aa2 from Aa1 by Moody's Investors Service as part of the rating agency's adjustment in California bonds.
Moody's Downgrades Glendale, Calif.
JAN 17, 2013 4:21pm 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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