Moody's Investors Service said it has downgraded the rating on $39 million in Utica City School District, N.Y., outstanding debt to Baa2 from Baa1, and assigned an enhanced A2 and underlying Baa2 rating to the district's $22 million general obligation refunding bonds, Series 2013.
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