Standard & Poor's Ratings Services said it lowered to BBB-minus from A-minus its underlying rating on Amityville, N.Y.'s general obligation debt and placed the rating on CreditWatch with negative implications.
Amityville, N.Y., GOs Downgraded to BBB-Minus by S&P
FEB 11, 2013 11:18am 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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