Moody's Investors Service said it has upgraded the Herkimer County, N.Y., general obligation rating to Aa3 from A1, affecting $7.9 million in outstanding debt.
Herkimer County, N.Y., Upgraded to Aa3 by Moody's
FEB 6, 2013 12:53pm 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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