Moody's Investors Service said it has upgraded to Caa1 from Caa2 the rating on the tuition revenue bonds of Birmingham-Southern College, Ala., issued through the private education building authority of the city of Birmingham.
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