Moody's Investors Service said it has upgraded to Aa1 from Aa2 the underlying rating on the Carle Place Union Free School District, N.Y.'s outstanding $11.4 million bonds secured by the district's general obligation unlimited ad valorem tax pledge.
Carle Place UFSD, N.Y., Upgraded to Aa1 by Moody's
JAN 31, 2013 2:03pm ET
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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.
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