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Elkhart Community Schools, Ind., Downgraded by Moody's
Wednesday, January 23, 2013
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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.

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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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