Standard & Poor's Ratings Services said it raised its rating on Rincon Valley Union Elementary School District, Calif.'s general obligation debt one notch to AA from AA-minus.
Rincon Valley Union ESD, Calif., GOs Raised to AA by S&P
FEB 4, 2013 2:07pm ET
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"One of these things does not belong" is a catchy slogan and it comes to mind when looking at the latest tax policy ideas coming from Washington when looking at the municipal bond tax exemption. The exemption is not a result of the growth of a tax code designed to induce or reduce certain behaviors. Rather, it is the foundation for the flow of capital in a $3.7 trillion dollar market required to efficiently finance the nation's infrastructure.
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