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Gloversville, N.Y., Upgraded to Baa1 by Moody's
Wednesday, February 6, 2013
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Moody's Investors Service said it has upgraded to Baa1 from Baa2 the rating on the city of Gloversville, N.Y.'s $5 million of outstanding long-term general obligation debt secured by the city's limited property tax pledge.

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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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