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Chabot Las Positas CCD, Calif., Downgraded to Aa3 by Moody's
Friday, February 22, 2013
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Moody's Investors Service said it has assigned a Aa3 rating to Chabot Las Positas Community College District, Calif.'s $300 million 2013 general obligation refunding bonds and downgraded to Aa3 from Aa2 the rating on the district's $438 million in outstanding general obligation debt.

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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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