Regional News

Moody's Junks More Than $300 Million of Fresno, Calif., Debt

JAN 24, 2013 7:09am ET

Moody's Investors Service downgraded more than $300 million in Fresno, Calif., debt to speculative grade.

To continue reading, log in, register or subscribe below.Calendars are available to registered users of The Bond Buyer web site.
Please log in below with the credentials you established at the time of your subscription or when you set up a free trial. If you have never set up an account with The Bond Buyer, please click the "Free trial" link below to set up your account.

Already a subscriber? Log in here.

Please note you must now log in with your email address and password.


Comments (4)
I'll take the truth regardless of the source! If more would do the same, we could address some of these unsustainable entitlement issues.
Posted by mdwjr | Friday, January 25 2013 at 5:33PM ET
When did BondBuyer comments turn into Fox News?
Posted by Stephen W | Thursday, January 24 2013 at 2:37PM ET
I agree completely with your comments. The next bug hammer for all municipalities is the unfounded pension liability. Who deserves 80-90 percent of their pay when they retire. Greed and stupidity are going to be their demise.

Also the high tax rates for the people out their working is going to drive them to another State. Then who is going to pay for the people that will not work.

This entitlement nation is a disgrace
Posted by t20999m193 | Thursday, January 24 2013 at 11:26AM ET
The drum beat of downgrades for California issuers is in the early stages. It stems from a dysfunctional state government and governing philosophy that pretends high marginal tax rates and onerous, even if well intentioned, regulations will have minimal impact on business and the state's economy. The jury is in on such strategies: they inevitably lead to lower and more volatile tax receipts and a slow growth to negative growth GDP accompanied by out migration of higher income people as well as businesses. Too bad for California's municipalities that the states' politicians refuse to accept this verdict!
Posted by mdwjr | Thursday, January 24 2013 at 9:21AM ET
Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.

Upcoming Events

Already a subscriber? Log in here
Please note you must now log in with your email address and password.