Moody's Investors Service said it has downgraded to Ca from Caa3 the rating on Jefferson County, Ala., $3.14 billion in outstanding sewer revenue warrants; the outlook remains negative.
Jefferson Co., Ala., Sewers Cut to Ca by Moody's
FEB 13, 2013 2:17pm 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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