Moody's Investors Service said it has downgraded the ratings for Elkhart Community Schools, Ind., to Aa3 from Aa2 for their $35.6 million pre-circuit breaker general obligation debt outstanding, and to A1 from Aa3 for the district's $39.5 million post-circuit breaker debt outstanding.
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.
the bond buyer conferences
September 25-27, 2013JW Marriott LA Live, Los Angeles, CA
October 27-29, 2013Crowne Plaza Times Square Manhattan, New York, NY