Moody's Investors Service said it has lowered the rating on the town of Colma, Calif.'s 2003 certificates of participation (town of Colma Capital Improvement Projects) to A2 from A1, affecting $12.5 million in outstanding debt.
Moody's Downgrades Colma, Calif.'s 2003 COPs to A2
JAN 18, 2013 7:33am 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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