Bank of New York Mellon's suspension of bankrupt Jefferson County, Ala.'s sewer warrant payments prompted Standard & Poor's to drop its rating to D, while Moody's said investors are now subjected "to the risk of higher losses."
JeffCo Sewer Warrants Dropped to D, Loss Risk Elevated: Analysts
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