Markets - Market News
Sabine Creek Series 2003, Texas, Downgraded to Baa1 by Moody's
Friday, January 18, 2013
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Moody's Investors Service said it has removed from review and downgraded to Baa1 from A3 two separately secured debt issues of the North Texas Municipal Water District reflecting a change in the credit profile of the participant city: Sabine Creek Wastewater Interceptor System revenue bonds, Series 2003 and water storage...

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Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.

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