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Birmingham-Southern College, Ala., Upgraded to Caa1 by Moody's
Tuesday, February 19, 2013
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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.

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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.

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