Moody's Investors Service said it has downgraded to A2 from Aa3 the rating on the town of Oyster Bay, N.Y.'s outstanding general obligation debt.
Oyster Bay, N.Y., Downgraded to A2 by Moody's
FEB 12, 2013 7:45am ET
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New York's budget leaves it at risk of becoming one of only five states that do not allow the use of design-build procurement to deliver public infrastructure projects.
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