Moody's Investors Service said it has downgraded to Aa3 from Aa2 the underlying rating on Gull Lake Community School, Mich.'s general obligation pledge.
Gull Lake Community School, Mich., Downgraded to Aa3 by Moody's
FEB 19, 2013 8:15am 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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